Hemla and its innovative and practical business model were created as a result of the constantly changing oil and gas industry based on the clear view that the existing structure will no longer support the growing demand for hydrocarbons.
Its business philosophy is based on the belief that nations or gas owners, in general, should endeavor to own and control their resources and benefit from the transfer and access to now widely available gas and oil related “know-how” and technology, as Norway did in the 1960’s and 1970’s.
The traditional E&P model, in general, reflects the ability and capability of super majors or international oil companies (IOCs) to develop a specific gas or oil asset from extracting the hydrocarbon to selling the oil, gas and associated products to the final off-taker.
The expertize (the “know-how”), the technology and the funding of a development are not separated and are delivered by IOCs as a 3-in-1 package.
However, in today’s energy market, where demand for hydrocarbons, especially “greener” hydrocarbons such as gas, is constantly increasing, the traditional E&P model is able to access only part of the world’s hydrocarbon resources.
In addition, host nations and owners of energy resources are seeking solutions to control and operate sovereign resources.
Hemla offers an alternative to the existing structure of the IOCs.