Resource Report Exploration 2018
Dear NRCC member, please find Resource Report Exploration 2018.
Introduction of the Resource Report Exploration 2018:
Substantial remaining resources on the Norwegian continental shelf (NCS) continue to offer big opportunities in both mature and less-explored areas. Increased knowledge, better data coverage, new working methods and innovative technology open new exploration opportunities and can yield a number of commercial discoveries. The companies must explore and discover more in order to maintain activity and production over time.
Oil and gas from the NCS have generated massive revenues to help make Norway a very wealthy country today. The petroleum sector is the country’s largest industry measured by value creation, government revenues, investment and export value. Petroleum operations accounted in 2017 for about 14 per cent of Norway’s gross domestic product. They were responsible for 19 per cent of total investment and 17 per cent of government revenues. Sales of oil and natural gas provided some 40 per cent of total Norwegian export value in 2017.