With the Offshore Northern Seas event in the works, it is a good time to talk about Norway’s petroleum industry. At least, that’s what OLF the Norwegian Oil Industry Association thinks.

OLF shared some news about Norway’s history and recent developments that are worth taking a look at.

During the past ten years, OLF says, the Norwegian petroleum industry has tripled its international turnover, and the rate of growth is continually increasing. A Norwegian report analyzing the country’s impact concludes that Norwegian companies have become global market leaders in subsea equipment, drilling equipment, floating production, and supply services.

“The strong position that certain environments have attained internationally is quite clearly the result of a willingness to invest in new technology on the Norwegian continental shelf and to bring it into operation. Innovation within the domestic market has opened the door to international markets,” said Gulbrand Wangen, managing director of Intsok (see below).

According to OLF, The internationalization of the Norwegian petroleum industry has been a priority task over the past 10 years. The intention has been to use expertise and technology developed on the Norwegian continental shelf internationally to strengthen the long-term foundations for growth and development in the petroleum cluster.

Internationalization has led to an increase in the level of activity within Norway. At the same time that turnover in foreign markets increased from US$3.4 million to almost $10 million in 2005, turnover on the Norwegian continental shelf almost quintupled, OLF said.

“The international focus has also contributed to higher employment, stronger economic growth, and greater expertise within many local communities. However, we see a clear need for Norwegian research and development environments to increase their focus on international challenges. It is our recommendation that both the authorities and the industry do their utmost to get new international bodies, preferably national oil companies, involved in the future development of our technology,” Wangen said.

For more information about the Norwegian Oil Industry Association, go to www.olf.no.

Intsok was established in 1997 as a joint pledge between industry and the authorities to strengthen the foundations for the internationalization of the Norwegian petroleum industry.