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History Of The Petroleum Industry In Norway
The history of the petroleum industry in Norway is the most significant part of Norway's economic history, and significant across that of Europe's petroleum industry. Exploration A letter dated 25 February 1958 from the Geological Survey of Norway to the Norwegian Ministry of Foreign Affairs stated that the chances of finding oil off the Norwegian coastline were negligible. In May 1963, Norway declared that any oil found off its coast would belong to Norway. In March 1965, the boundaries of oil exploration were divided along the median line across the North Sea. In April 1965 Norway opened the first round of exploration drilling licences, with 22 in 78 areas. Esso received three exploration drilling licences in the Norwegian continental shelf and began drilling on 19 July 1966. The first oil was found by Esso in 1967 in the second well that Esso drilled, known as 25/11-1; this became the Balder oil field. Esso began drilling on 17 November 1969 with the ''Ocean Viking'' platform, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Geological Survey Of Norway
Geological Survey of Norway ( no, Norges geologiske undersøkelse), abbreviation: ''NGU'', is a Norwegian government agency responsible for geologic mapping and research. The agency is located in Trondheim with an office in Tromsø, with about 200 employees. It is subordinate to the Norwegian Ministry of Trade, Industry and Fisheries.Government.no: Subordinate agencies and institutions2012-07-11. Mission NGU's main work is related to collecting, processing and impart knowledge related to the physical, chemical and mineralogical characteristics of the countries bedrock, mineral resources, deposits and groundwater.Geological Survey of NorwayAbout NGU 2008-01-27. Important areas include the Arctic, Antarctica, Svalbard and the continental shelf. With the motto "Geology for the Society", NGU provides maps and geological information in national databases. The activity is organized after five key principles:NGU - Annual report 20082008-01-27. # Long-term value creation from geologica ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
North Sea Oil
North Sea oil is a mixture of hydrocarbons, comprising liquid petroleum and natural gas, produced from petroleum reservoirs beneath the North Sea. In the petroleum industry, the term "North Sea" often includes areas such as the Norwegian Sea and the area known as "West of Shetland", "the Atlantic Frontier" or "the Atlantic Margin" that is not geographically part of the North Sea. Brent crude is still used today as a standard benchmark for pricing oil, although the contract now refers to a blend of oils from fields in the northern North Sea. From the 1960s to 2014 it was reported that 42 billion barrels of oil equivalent (BOE) had been extracted from the North Sea since when production began, and there is still a potential of 24 billion BOE left remaining there, which is equivalent to about 35 years worth of production, the North Sea will remain as an important petroleum reservoir for years to come. History 1851–1963 Commercial extraction of oil on the shores of the North Sea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Petroleum And Energy
The Royal Norwegian Ministry of Petroleum and Energy ( no, Olje- og energidepartementet) is a Norwegian ministry responsible for energy, including petroleum and natural gas production in the North Sea. It is led by Minister of Petroleum and Energy Terje Aasland ( Labour Party). The department must report to the legislature, the Storting. Organisation The ministry is divided into the following sections: *Political staff *Communication Unit *Technology and Industry Department *Energy and Water Resources Department *Department of Trade and Industrial Economics *Administration, Budgets and Accounting Department Political staff * Minister Marte Mjøs Persen (Labor Party) Subsidiaries Subordinate government agencies: * Norwegian Petroleum Directorate * Norwegian Water Resources and Energy Directorate * Enova * Gassnova * Statnett Wholly owned limited companies: * Gassco * Petoro Partially owned public limited companies: * Equinor (62% ownership) References External links Official ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Pension Fund Of Norway
The Government Pension Fund of Norway ( no, Statens pensjonsfond) comprises two entirely separate sovereign wealth funds owned by the government of Norway. The Government Pension Fund Global, also known as the Oil Fund, was established in 1990 to invest the surplus revenues of the Norwegian petroleum sector. It has over US$1.19 trillion in assets, and holds 1.4% of all of the world’s listed companies, making it among the world’s largest sovereign wealth funds. In December 2021, it was worth about $250,000 per Norwegian citizen. It also holds portfolios of real estate and fixed-income investments. Many companies are excluded by the fund on ethical grounds. The Government Pension Fund Norway is smaller and was established in 1967 as a type of national insurance fund. It is managed separately from the Oil Fund and is limited to domestic and Scandinavian investments and is therefore a key stock holder in many large Norwegian companies, predominantly via the Oslo Stock Exchange. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sovereign Wealth Fund
A sovereign wealth fund (SWF), sovereign investment fund, or social wealth fund is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such as private equity fund or hedge funds. Sovereign wealth funds invest globally. Most SWFs are funded by revenues from commodity exports or from foreign-exchange reserves held by the central bank. Some sovereign wealth funds may be held by a central bank, which accumulates the funds in the course of its management of a nation's banking system; this type of fund is usually of major economic and fiscal importance. Other sovereign wealth funds are simply the state savings that are invested by various entities for the purposes of investment return, and that may not have a significant role in fiscal management. The accumulated funds may have their origin in, or may represent, foreign currency deposits, gold, special drawing rights (SDRs) and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Decompression (diving)
The decompression of a diver is the reduction in ambient pressure experienced during ascent from depth. It is also the process of elimination of dissolved inert gases from the diver's body, which occurs during the ascent, largely during pauses in the ascent known as decompression stops, and after surfacing, until the gas concentrations reach equilibrium. Divers breathing gas at ambient pressure need to ascend at a rate determined by their exposure to pressure and the breathing gas in use. A diver who only breathes gas at atmospheric pressure when free-diving or snorkelling will not usually need to decompress, Divers using an atmospheric diving suit do not need to decompress as they are never exposed to high ambient pressure. When a diver descends in the water, the hydrostatic pressure, and therefore the ambient pressure, rises. Because breathing gas is supplied at ambient pressure, some of this gas dissolves into the diver's blood and is transferred by the blood to othe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mongstad
Mongstad is an industrial site in Vestland county, Norway. The site sits on the border of the municipalities of Alver and Austrheim, with most of the site in Alver. The site features an oil refinery for Equinor and other oil companies, including Shell. At Mongstad, Equinor has a crude oil terminal with a capacity of . The port at Mongstad is the largest in Norway, measured in tonnage. The refinery at Mongstad is modern, and has been extensively upgraded, with a capacity of 12 million tonnes of crude oil per year (230,000 barrels per day). The refinery is the largest in Norway, though medium-sized by European standards. It is owned by a company called Mongstad Refining, in which Equinor has whole ownership (since 2012). All the crude oil refined at Mongstad comes from the North Sea. The largest production is petrol, diesel, jet fuel, and light petroleum products. The heaviest components are used to make petrol coke, an important ingredient in anodes for aluminum production. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stavanger
Stavanger (, , American English, US usually , ) is a city and municipalities of Norway, municipality in Norway. It is the fourth largest city and third largest metropolitan area in Norway (through conurbation with neighboring Sandnes) and the administrative center of Rogaland county. The municipality is the fourth most populous in Norway. Located on the Stavanger Peninsula in southwest Norway, Stavanger counts its official founding year as 1125, the year the Stavanger Cathedral was completed. Stavanger's core is to a large degree 18th- and 19th-century wooden houses that are protected and considered part of the city's cultural heritage. This has caused the town center and inner city to retain a small-town character with an unusually high ratio of detached houses, and has contributed significantly to spreading the city's population growth to outlying parts of Greater Stavanger. The city's population rapidly grew in the late 20th century due to its oil industry. Stavanger is known ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barents Sea
The Barents Sea ( , also ; no, Barentshavet, ; russian: Баренцево море, Barentsevo More) is a marginal sea of the Arctic Ocean, located off the northern coasts of Norway and Russia and divided between Norwegian and Russian territorial waters.World Wildlife Fund, 2008. It was known among Russians in the Middle Ages as the Murman Sea ("Norse Sea"); the current name of the sea is after the historical Netherlands, Dutch navigator Willem Barentsz. The Barents Sea is a rather shallow Continental shelf, shelf sea, with an average depth of , and it is an important site for both fishing and hydrocarbon exploration.O. G. Austvik, 2006. It is bordered by the Kola Peninsula to the south, the shelf edge towards the Norwegian Sea to the west, and the archipelagos of Svalbard to the northwest, Franz Josef Land to the northeast and Novaya Zemlya to the east. The islands of Novaya Zemlya, an extension of the northern end of the Ural Mountains, separate the Barents Sea from the Kar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Foreign Affairs (Norway)
The Royal Norwegian Ministry of Foreign Affairs ( Norwegian (Bokmål): ''Det kongelige utenriksdepartement''; Norwegian (Nynorsk): ''Det kongelege utanriksdepartement'') is the foreign ministry of the Kingdom of Norway. It was established on June 7, 1905, the same day the Parliament of Norway (Stortinget) decided to dissolve the personal union with Sweden. The ministry is headed by Minister of Foreign Affairs, currently Anniken Huitfeldt, who is a minister in the Støre cabinet that has governed since 14 October 2021. The ministry also has a Minister of International Development. This position was established by the Willoch cabinet in 1983, and existed until October 2013 when it was abolished by the Solberg's Cabinet and the foreign minister became the sole head of the ministry. The position of Minister of International Development was restored on January 17, 2018, when the Liberal party joined the Solberg government. The current Minister of International Development is An ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Nations Convention On The Law Of The Sea
The United Nations Convention on the Law of the Sea (UNCLOS), also called the Law of the Sea Convention or the Law of the Sea Treaty, is an international agreement that establishes a legal framework for all marine and maritime activities. , 167 countries and the European Union are parties. The Convention resulted from the third United Nations Conference on the Law of the Sea (UNCLOS III), which took place between 1973 and 1982. UNCLOS replaced the four treaties of the 1958 Convention on the High Seas. UNCLOS came into force in 1994, a year after Guyana became the 60th nation to ratify the treaty. It is uncertain as to what extent the Convention codifies customary international law. While the Secretary-General of the United Nations receives instruments of ratification and accession and the UN provides support for meetings of states party to the Convention, the United Nations Secretariat has no direct operational role in the implementation of the Convention. A UN specialized agenc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
