H. Yoo
Research expert covering South Korea
Oil and gas in Norway - statistics & facts
Norway is Europe’s largest producer of oil and gas, following Russia. Commercial drilling commenced in the early 1970s along the Norwegian continental shelf and encompasses offshore activities in the North Sea, Norwegian Sea, and Barent Sea. Today, the oil and gas industry is one of the country’s most significant – regularly contributing around 20 percent to Norway's total GDP.
Multiple pipeline networks cross the North Sea, connecting extraction platforms with refiners and consumer markets in continental Europe and the United Kingdom. Of these, gas pipelines are not only the most ubiquitous, but also the ones with the greatest length and capacity. The Franpipe to Dunkirk in France is the longest pipeline run by Norwegian operators, at some 840 kilometers. Meanwhile, the pipeline with the greatest export relevance is the Europipe to Germany, as it carries around 30 billion standard cubic meters per year.
Overall, Norway's oil and gas market value has grown steadily in the past few years, with forecasts suggesting it could climb to more than 70 billion U.S. dollars by 2030.
Norway’s gas production supports consumers in Europe
In terms of output, natural gas production in Norway is particularly bountiful, with the country among the largest 10 gas producers in the world.Multiple pipeline networks cross the North Sea, connecting extraction platforms with refiners and consumer markets in continental Europe and the United Kingdom. Of these, gas pipelines are not only the most ubiquitous, but also the ones with the greatest length and capacity. The Franpipe to Dunkirk in France is the longest pipeline run by Norwegian operators, at some 840 kilometers. Meanwhile, the pipeline with the greatest export relevance is the Europipe to Germany, as it carries around 30 billion standard cubic meters per year.
Equinor is industry leader
Norway’s oil and gas industry is spearheaded by the partly state-owned enterprise Equinor (formerly known as Statoil), which oversees much of the drilling operations on the continental shelf. It currently has more than 200 operatorships in Norwegian waters, with natural gas being its most profitable product segment.Overall, Norway's oil and gas market value has grown steadily in the past few years, with forecasts suggesting it could climb to more than 70 billion U.S. dollars by 2030.
