1. Norway’s oil and gas industry Key figures 2005 (based on 2004 figures)

2. Overview Norway’s interests Oil export and production Gas export and production The Government Petroleum Fund Petroleum in the Norwegian economy Internationalisation

3. Norway’s interests Norway co-operates on energy policy with our most important political and economic partners in the International Energy Agency (IEA) These are primarily importers of oil and gas Norway also has important shared interests with other oil-exporting countries both in and outside OPEC

4. Oil Norway is the world’s third largest oil exporter after Saudi Arabia and Russia The net export of Norwegian crude oil was 2.9 million barrels per day (Mbd) in 2004 About 60% of Norwegian oil is exported to Western Europe About 15% is exported to North America (USA and Canada)

5. Oil exports (Mbd)

6. Oil production (Mbd) With an oil production of 3.2 Mbd, Norway was the world’s seventh largest oil producer in 2004

7. Gas Norway is the world’s third largest gas exporter after Russian and Canada Norway plays a particularly important role in European gas supply security Deliveries of gas from Snøhvit, the world’s most northerly and Europe’s first LNG installation, to the USA are planned to start in 2006

8. European gas imports Norwegian gas accounts for 19% of Europe’s gas consumption

9. Importers of Norwegian gas in billion Sm 3

10. Gas imports to Germany Norway accounts for 29% of gas consumption in Germany, which is by far Europe’s largest importer of gas

11. Gas imports to France Norway accounts for 32% of gas consumption in France, Europe’s third largest gas importer

12. Gas production 2003 With a gas production of 78.5 bn Sm 3, Norway was the world’s seventh largest gas producer in 2003

13. The Government Petroleum Fund Established by the Storting in 1990 Funds first allocated in 1996 Made up of the government’s revenues from the petroleum industry + the return on the fund’s capital Value at the end of 2004 was NOK 1 016 billion, an increase of NOK 171 billion from 2003

14. The growth of the petroleum fund

15. Petroleum in the Norwegian economy The export value of sales of crude oil and gas in 2004 is estimated at NOK 346 bn This is equivalent to 47% of total Norwegian exports The petroleum industry’s share of GDP in 2004: 21% More than 75 000 people are employed in the Norwegian petroleum sector

16. Production profile NCS Oil: constant up to 2007, then gradual decline Gas: increasing up to 2010, then flattens out

17. Internationalisation “The Norwegian petroleum industry today has world class technology and expertise. The synergy between the dynamic Norwegian continental shelf and the growing global energy market [...] offers good opportunities for internationalisation for all companies.” Minister of Petroleum and Energy Thorhild Widvey

18. Internationalisation The petroleum-related overseas sales of Norwegian companies increased by an average of 10% per year from 1995 to 2003