Being a large exporter of both oil and gas, Norway plays an important role as a reliable supplier to the world’s energy markets. Norway is the world’s sixth largest supplier of crude oil and second largest exporter of natural gas.
What is probably less well known is that Norway is also a substantial exporter of petroleum related goods and services. The Norwegian based service and supplier industry has grown its international sales by almost 25% from 2007 to 2009. International sales have reached a level of almost NOK 120 billion or about USD 20 billion. Considering the recent turbulence in the world economy, this is quite impressive.
The average estimated oil recovery factor worldwide is about 35%. World-class technology and engineering at the fields on the Norwegian Continental Shelf has improved this substantially to an average recovery factor of 46%, in accordance with currently approved plans. The Norwegian oil industry is also the most carbon efficient in the world.
The petroleum cluster is expanding into global markets with advanced and cost effective technologies and has become a market leader in seismic and reservoir management, underwater and drilling equipment, floating production and supply services. The Norwegian Continental Shelf has been a breeding ground for innovation and technological development thanks to close cooperation between oil companies and the technology industry, actively supported by the government. Strict regulations have forced the industry to develop clean technology solutions to ensure that there are no harmful emissions.
High profiled oil and gas companies from Norway
This issue contains a series of articles to give you more in-depth understanding of Norway’s present focus and activities. In the second half of the magazine you will find cutting-edge Norwegian companies within the oil and gas industry that provide their products or services to the global market.
If you are interested in promoting your company in the next publication. Please get in touch at firstname.lastname@example.org.
You can also search for relevant oil and gas companies at Nortrade.com.
Read the digital edition og Norway Exports Oil & Gas: