| Norway Oil Industry News |
Norway has an advanced economy which has benefited
from the exploitation of its hydrocarbon industry. In 2004, the country
had a gross domestic product (GDP) of $250 billion, and a per-capita
GDP, $40,000, which is one of the highest in the world. Norway’s
economy is highly dependent on its offshore oil and natural gas sector,
which is its primary source of revenue and the largest contributor
to their GDP.
Norway has the largest proven
oil reserves in Western Europe. All
of
Norway’s
oil reserves are located offshore on the Norwegian Continental Shelf
(NCS), which is divided into three
sections; the North Sea, the Norwegian Sea and the Barents Sea. The
bulk of Norway's oil production occurs in the North Sea. There is
no current production and little exploration activity in the Barents
Sea, due to high costs
and environmental concerns. However, it is believed that the Barents
Sea could contain sizable oil and gas reserves, and the Norwegian
government has begun to grant licensing blocs in the area.
The largest oil field in Norway is the Troll complex,
operated by Norsk Hydro. Other important
fields include Ecofisk (ConocoPhillips), Snorre (Statoil), Oseberg
(Norsk Hydro), and Draugen (Shell). Statoil controls the largest
total oil production with 17
fields. The second-largest producing company in Norway is Norsk Hydro.
ConocoPhillips is the largest foreign oil producer
in the country, followed by ExxonMobil
and BP (121,000 bbl/d). Current emphasis is gocused
on increasing production from existing projects, including smaller
satellite fields. |
| |
| Current Norwegian Oil Industry
News |
Updated :
March 10 (Bloomberg) -- Norway’s crude production fell for a second consecutive month in February from a year earlier, possibly signaling lower-than-estimated output at Statoil ASA in the first three months of the year. Norway’s oil production ...
Publ.Date : Wed, 10 Mar 2010 14:50:00 GMT
LONDON -(Dow Jones)- The following table lists unplanned and planned outages at U.K., Norwegian and Danish oil and natural gas fields in 2009 and 2010 as reported by Dow Jones Newswires from both official and unofficial sources. Operator Field ...
Publ.Date : Wed, 10 Mar 2010 17:20:00 GMT
OSLO, March 5 (Reuters) - Norway's sovereign wealth fund, Europe's biggest equity investor, swung to its best ever return in 2009, generating more than $100 million in gains to almost erase its worst ever return posted 12 months earlier. Commonly ...
Publ.Date : Fri, 05 Mar 2010 10:02:00 GMT
PARIS, March 10 (Reuters) - Polish oil refiner Lotos will start pumping crude from its Norwegian Yme field in July and will expand further in the upstream, its director of strategy told Reuters on Wednesday. "In July, we will have our first ...
Publ.Date : Wed, 10 Mar 2010 13:24:00 GMT
OSLO, March 10 (Reuters) - Norway's oil production grew to a preliminary 2.01 million barrels per day on average in February from 1.99 million in January, the Norwegian Petroleum Directorate said on Tuesday. Production of natural gas liquids (NGL ...
Publ.Date : Wed, 10 Mar 2010 08:30:00 GMT
The fund, known as the Government Pension Fund Global, invests all of its assets abroad in order to avoid stoking inflation at home. Launched in 1996, the fund up until now has invested exclusively in stocks and bonds and ranks as Europe's largest ...
Publ.Date : Sun, 28 Feb 2010 23:59:00 GMT
Your account has been frozen . For your available options click the below button. THE long-running controversy over SNP demands for a Scottish oil fund to reap the revenue benefits of North Sea reserves was reignited last night. The debate flared ...
Publ.Date : Sat, 06 Mar 2010 00:00:00 GMT
|
|
| Norwegian Oil & Gas Industry
Links |
United States Government
United States Department of Energy - Energy Information Administration
- Country Brief - Norway
CIA
World Factbook on Norway
U.S.
State Department's Consular Information Sheet - Norway
Governmental Agencies
Norwegian Petroleum Directorate (NPD)
Norwegian Ministry of the Environment
Norwegian Water Resources and Energy Directorate
|
