The shelf was gradually opened and only a restricted

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Unformatted text preview: “Christmas present.” Production from the field started on June 15, 1971, and in the following years a number of major discoveries were made. Exploration in the 1970s was confined to the area south of the 62nd parallel. The shelf was gradually opened, and only a restricted number of blocks were awarded in each licensing round. Foreign companies dominated exploration off Norway in the initial phase, and were responsible for developing the country's first oil and gas fields. When Statoil was created in 1972, the principle of 50% state participation in each production licence was established. This rule was later changed so that the Storting 7 Petroleumskartet (Petroleum map), Ekofisk, Available on: <www.histos.no/ oljemuseet/ vis.php?id=1&kat=1>. 9 © Ifri F. Harbo / The European Gas and Oil Market (Parliament) could evaluate whether the level of state participation should be lower or higher, depending on the circumstances. Starting on January 1, 1985, the state's participation in petroleum operations was reorganised. It was split in two, one linked to the company a...
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This document was uploaded on 03/30/2014.

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