Norwegian offshore activity worth 100 billion EUR

Statfjord A (

Norwegian state ownership on the continental shelf had an estimated value of 100 billion EUR at the beginning of 2008, and has increased by 5,2 billion EUR since 2006.


It is the consulting company Wood Mackenzie which has done the estimates of the values of Norwegian activities in the offshore industry, on behalf of the Norwegian Ministry of Petroleum and Energy. Wood Mackenzie has analyzed what is called the State’s Direct Financial Interest (SDFI), which is important to monitor the cash flows of Norwegian petroleum industry.

Since 2006 the SDFI portfolio has increased with 5,2 billion EUR, mainly due to high oil and gas prices. At the same time the costs of the activity on the continental shelf has increased.

- This development illustrates how important it is to continue our commitment to reduce costs, increase oil recovery and ensure the future value-creation from the Norwegian Continental Shelf, says Minister Terje Riis-Johansen in a press release.