Download Norges olje- og gassvirksomhet

Norway’s oil and gas industry
Key figures 2005
(based on 2004 figures)
Overview
• Norway’s interests
• Oil export and production
• Gas export and production
• The Government Petroleum Fund
• Petroleum in the Norwegian economy
• Internationalisation
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
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)
AY
Ira
n
R
W
7
2,
93
6,
4
7,
04
Ve
2,
47
ne
zu
el
a
N
2,
ig
1
er
ia
2,
04
U
AE
2,
Ku
01
w
ai
t2
,0
M
1
ex
ic
o
1,
76
Ira
q
1,
51
N
O
si
a
bi
a
R
us
Sa
ud
iA
ra
Oil exports (Mbd)
8
7
6
5
4
3
2
1
0
Oil production (Mbd)
• With an oil production of 3.2 Mbd, Norway was the world’s
seventh largest oil producer in 2004
U
AE
2,
3
5
2,
60
ez
ue
la
3,
08
Ve
n
an
a
C
AY
RW
O
da
3,
19
9
3,
4
hi
na
3,
ico
M
ex
n
Ira
83
3,
96
2
7,
6
SA
U
ia
Ar
ab
C
N
Sa
u
di
R
us
si
a
9,
2
9,
02
10
9
8
7
6
5
4
3
2
1
0
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
European gas imports
• Norwegian gas accounts for 19% of Europe’s gas
consumption
Algeria
19 %
Germany
3%
NORWAY
19 %
UK
4%
Netherlands
12 %
Others
3%
Nigeria
3%
Russia
37 %
Importers of Norwegian gas in billion Sm3
Others
0%
UK 9,1
12 %
Netherlands 4,31
6%
Belgium 7,2
10 %
Czech Republic 2,62
3%
Italy 7,00
9%
Austria 0,80
1%
Spain 2,21
3%
Germany 26,40
35 %
France 14,65
20 %
Poland 0,5
1%
Gas imports to Germany
• Norway accounts for 29% of gas consumption in Germany,
which is by far Europe’s largest importer of gas
UK
3%
Netherlands
24 %
Russia
41 %
Denmark
3%
NORWAY
29 %
Gas imports to France
• Norway accounts for 32% of gas consumption in France,
Europe’s third largest gas importer
Algeria
15 %
Oman
0%
Belgium
2%
Netherlands
21 %
Nigeria
2%
Russia
26 %
UK
2%
NORWAY
32 %
Gas production 2003
• With a gas production of 78.5 bn Sm3, Norway was the
world’s seventh largest gas producer in 2003
700
600
500
400
300
200
100
54
C
2,
an
9
ad
a
18
2,
8
U
K
95
,9
Ira
n
85
,5
Al
ge
ria
N
O
82
R
W
AY
In
78
do
,5
ne
si
N
a
et
73
he
,3
rla
nd
s
Sa
68
ud
,8
iA
ra
bi
a
64
U
SA
R
us
sia
58
9,
1
0
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
The growth of the petroleum fund
1 200 000 000
1 000 000 000
600 000 000
400 000 000
200 000 000
4
.2
00
3
.2
00
2
.2
00
1
.2
00
0
.2
00
9
.1
99
8
.1
99
7
99
.1
99
6
0
.1
NOK
800 000 000
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
Production profile NCS
• Oil: constant up to 2007, then gradual decline
350
300
250
Gas
NGL
Oil
200
150
100
50
27
20
23
20
19
20
15
20
11
20
07
20
03
20
99
19
95
19
91
19
87
19
83
19
79
19
75
19
71
0
19
million standard m3 oil equivalents
• Gas: increasing up to 2010, then flattens out
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
Internationalisation
• The petroleum-related overseas sales of Norwegian companies
increased by an average of 10% per year from 1995 to 2003
40
35
mrd NOK
30
25
20
15
10
5
0
.1995
.2003