2014 represented several academic highlights. In March, The Minister of Petroleum & Energy, Tord Lien inaugurated The National IOR Centre of Norway, where IRIS is a research partner together with the University of Stavanger and Institute for Energy Technology (IFE). In October, IRIS Environment hosted the conference Norwegian Environmental Toxicology Symposium, bringing together 100 Norwegian and international researchers in the area of environmental toxicology in Stavanger.
Another event in October was the start-up of the first fixed installation of Drilltronics™ at Statfjord C. This is a system designed to automate the drilling process, based on technology developed at IRIS based on many years of research.
In December, IRIS Social Science was granted the Competence Sharing Award for 2014, from the Stavanger Chamber of Commerce.
These are all examples of how research from IRIS creates value in different parts of society. More good examples are displayed under highlights and value creation in the annual report.
For IRIS, 2014 was a good year in financial terms as well, with a surplus from drilling, well, and energy research. IRIS maintains one of the highest earning rates among Norwegian research institutes, even though we no longer experience the previous growth rates in the private research market.