Norwegian Oil And Gas Technology And Know-How Driving Deep Water Activity

Introduction

The Norwegian oil and gas industry has lasted for almost five decades, and the activity has established the petroleum sector as the most important industry in Norway, counting for more than 23% of the total value creation in 2012. The petroleum production on the shelf has added more than NOK 9000 billion to the country's GDP over the about 40 last years¹. The value creation in the sector positions Norway in the top world ranking due to the significant trade surplus².

Today 76 fields are in production and produced in 2012 about 1,9 mill barrels of oil per day and about 111 bill standard cubic meters (SM³) gas. Norway is ranked as the seventh largest oil exporter and the fourteenth largest oil producer in the world. In 2011 Norway was the third largest gas exporter and the sixth largest gas producer in the world.³