Legal Market Overview
The Norwegian market has fully recovered from the commodity price dip of recent years and transactional work in the oil and gas sector is now returning to previous levels. The oil and gas industry still remains Norway’s main focus area with shipping and fishing following closely behind. However, several key companies in the sector rebranded in late 2017 and early 2018 to reflect the move nationally and internationally towards green energy; Statoil is now Equinor and Dong Energy rebranded as Ørsted. This move is also reflected in the country’s prevalence in hydro power and increasing presence of solar and wind projects.
Infrastructure remains prominent in the market with the Norwegian government allocating significant funds to develop the road, railway, shipping, aviation and public transport sectors, and plans to privatise the Norwegian railway system still bring in substantial work for firms.
Full-service firms continue to dominate the market with BAHR, Wiersholm, Advokatfirmaet Thommessen AS, Wikborg Rein and Advokatfirmaet Schjødt AS being the most dominant. Boutique firms also leave their mark; Advokatfirmaet Glittertind AS leads in the construction industry, employment boutiques Homble Olsby advokatfirma AS and Advokatfirmaet Storeng, Beck & Due Lund (SBDL) DA remain active, and insurance boutique Advokatfirma Kogstad Lunde & Co attracts international work.
The international firm presence in Norway remains limited, with DLA Piper being the only player outside of the Big 4 accountancy firms.