Oil and Gas
The petroleum industry is Norway's largest industry. In 2012, the petroleum sector represented more than 23 per cent of the country’s total value creation. The revenues from the petroleum sector constitute 30 percent of the state revenues. Today Norway is the 7th largest producer of oil and the 3rd largest producer of gas in the world.
In the late 1950s, very few people believed that the Norwegian continental shelf (NCS) might conceal rich oil and gas deposits. However, the discovery of gas at Groningen in the Netherlands in 1959 caused people to revise their thinking on the petroleum potential of the North Sea.
Norway has a highly skilled and internationally competitive petroleum related service and supply industry, developed over more than 40 years of petroleum activities in Norway. This is a result of a deliberate policy.
Norway is the third largest gas exporter in the world. Nearly all Norwegian gas is sold on the European market. A well-developed and efficient gas infrastructure and short transport distances make Norwegian gas competitive in the European market.
Up until 2014, the Ministry of Petroleum and Energy and the Norwegian Petroleum Directorate published a booklet containing factual information about the Norwegian petroleum activities. While the paper edition is now history, up-to-date content will now be available in a new and improved format at NorwegianPetroleum.no.
The Ministry of Petroleum and Energy is today announcing this year’s licensing round for the geologically well know areas on the Norwegian Continental Shelf – Awards in Predefined Areas (APA) 2015. The objective is to award new production licences in these areas at the beginning of 2016. The application deadline is 2. September 2015 at 12:00 pm.
Today, Oslo District Court pronounced its judgment in the legal proceedings brought against the Norwegian State (represented by the Ministry of Petroleum and Energy), by four companies with participating interests in Gassled (the gas transport system on the Norwegian continental shelf).