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NorwayNorway Observer

The Kingdom of Norway, is a Nordic country in Northern Europe occupying the western portion of the Scandinavian Peninsula, as well as Jan Mayen and the Arctic archipelago of Svalbard. Norway has a total area of 385,178 km2 and a population of 5,314,336 people.

Norway is a unitary parliamentary democracy and constitutional monarchy, with HH King Harald V as the head of state and HE Erna Solberg as the Prime Minister. Minister of Petroleum and Energy of Norway is HE Tina Bru.

Norway has rich resources of oil, natural gas, hydroelectric power, forests, and minerals, and is one of the largest exporters of seafood. Norway is world’s 13th largest oil producer. The petroleum industry accounts for around a quarter of the country’s GDP. In addition, Norway is the 5th largest natural gas producer and the 3rd largest per capita.

Oil and gas industry in Norway is now operating for almost 40 years with a focus on off-shore production. Hydrocarbon industry of Norway has know-how and required expertise to make optimum utilisation of petroleum resources in a safe way. Developing expertise has been integral to Norway’s oil and natural gas policy. Experience, skill-sets, and technological advances developed on Norwegian continental shelf are utilised by global oil and gas industries.

Other major industries in Norway include shipping, food processing, shipbuilding, the metal industry, chemicals, mining, fishing, and the pulp and paper production.

Norway is a founding member of the United Nations, NATO, the Council of Europe, and the Nordic Council, and is a member of the European Economic Area (EEA), the World Trade Organisation (WTO), and the Organisation for Economic Cooperation and Development (OECD), and is an Observer Member to the GECF.

Photo: Reine, Lofoten islands

Major Indicators

Land (sq.km) 385,178
Population (inhabitants) 5,314,336
Capital Oslo
Continent Europe
Language(s) Norwegian (official), English, Sami
National currency Norwegian Krone
Time Zone GMT+2
Labor force (inhabitants) 2,774,280
GDP (current billion US$) 434.75
GDP per capita (current US$) 81,807.20
GDP growth (percentage) 1.45
Exports of Goods and Services (current billion US$) 165.43
Proven natural gas reserves (billion c.m.) 2,226
Natural gas marketed production (billion c.m.) 125.50
Pipeline exports (billion c.m.) 113.33
LNG exports (billion c.m.) 6.73
Domestic natural gas consumption (billion c.m.) 3.27

Location

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