Oil was discovered off the coast of Norway in the late 1960s, and the ensuing period of technological and economic development has spawned some of the most impressive feats of engineering in history.
Exporting Energy
Norway is one of the world’s largest exporters of crude oil and Western Europe’s most important source of natural gas. Petroleum-related activities top the list of Norwegian exports. In 2002 the export of crude oil and natural gas accounted for more than 40 per cent of the country’s total export of goods and services. Moreover, the construction and operation of the largest offshore installations on earth has led to the establishment of a substantial offshore technology industry.
Disseminating Know-how
Norwegian companies are among the largest operators in terms of construction and production volume at sea. The national business portfolio reflects a commitment to innovative technology that has led to a fundamental shift in oilfield economics. Examples include subsea-to-shore field development concepts and intelligent well completions. A number of full-service technology firms not only provide niche products and services, but also routinely take on entire field developments, from feasibility studies to the design, installation and maintenance of fixed, floating and susbsea production systems.
Offshore Innovation Laboratory
The North Sea has long been among the world’s leading offshore provinces, and represents in many ways a laboratory for developing and testing technology. The ability of companies such as Statoil and Hydro to think along new lines is well known. Examples of cutting-edge technology first adopted by Norwegian companies include horizontal drilling, 3D seismology, and floater and subsea technology. In future, increased focus on improved oil recovery and environmentally-sound technology will help to ensure the continued competitiveness of the Norwegian oil and gas industry.
By the Norwegian Trade Council