Friday 26 August 2022

Resource report 2022: Norway is a competitive and long-term supplier of oil and gas to Europe The Norwegian Petroleum Directorate (NPD) today presents its Resource report 2022.

This provides a status overview and analyses of the long-term opportunities and challenges for petroleum operations on the Norwegian continental shelf (NCS).

It shows:

the remaining resource potential and the opportunities and values which this could represent for Norwegian society

that the NCS is competitive in terms of both costs and greenhouse gas emissions

what is required for Norway to maintain its role as a stable, long-term and secure oil and gas supplier to Europe

challenges, dilemmas and opportunities for developing the industry within more stringent climate policy parameters.

Roughly half the estimated petroleum resources have been produced from 1971 to the present. During this period, oil and gas production has contributed about NOK 18 000 billion to Norway’s gross domestic product, measured in today’s value. The sector represents a large and important part of the Norwegian economy and accounts for a substantial share of government revenues.

More