This is an archived release.
Moderate increase in value added
Higher prices and an increase in gas production led to an increase in the value added of 4 per cent in 2012, compared to the year before. Increased intermediate consumption counteracted this increase so that the overall increase in value added in the oil and gas sector was 3 per cent from 2011 to 2012.
|2011||20121||Change in per cent|
|NOK million/number||NOK million/number||Share||2011 - 2012|
|1For 2012 the figures are preliminary.|
|Total value of production||791 198||826 645||100||4.5|
|Extraction of oil and natural gas, incl. transport via pipelines||688 210||714 810||86.5||3.9|
|Support activities for petroleum and natural gas extraction||102 988||111 835||13.5||8.6|
|Intermediate consumption, total||150 716||166 094||100||10.2|
|Extraction of oil and natural gas, incl. transport via pipelines||87 233||96 182||57.9||10.3|
|Support activities for petroleum and natural gas extraction||63 483||69 912||42.1||10.1|
|Value added, total||640 482||660 854||100||3.2|
|Extraction of oil and natural gas, incl. transport via pipelines||600 977||618 627||93.6||2.9|
|Support activities for petroleum and natural gas extraction||39 505||42 227||6.4||6.9|
|Total employees||54 623||58 809||100||7.7|
|Extraction of oil and natural gas, incl. transport via pipelines||23 869||25 193||42.8||5.5|
|Support activities for petroleum and natural gas extraction||30 754||33 616||57.2||9.3|
The oil and gas activity in Norway consists of the extraction of crude oil and natural gas, support activities for petroleum and natural gas extraction and pipeline transport. The production value for these three industries amounted to NOK 827 billion in 2012. This equals an increase of 4.5 per cent from 2011. The intermediate consumption showed an increase of 10 per cent and amounted to NOK 166 billion in 2012. This resulted in value added of NOK 661 billion in 2012, up NOK 20 billion or 3.2 per cent from 2011. The value added is often used as a measure of the XXX and consists of the industry’s production value minus the input factors of goods and services (intermediate consumption).
Production in oil and gas extraction industry remains high
The production value from the extraction industry (including transport via pipelines) increased by 4 per cent from the previous year to NOK 715 billion. This was due to an increase in production of 1.5 per cent, measured in tonnes, and an increase in prices of both the crude oil and natural gas. Oil prices rose by 3 per cent from the previous year, while gas prices increased by 10 per cent. For condensate and NGL , the price went down, but these products are not extracted to the same degree as crude oil and natural gas. The production, broken down by product, showed a fall in the production of oil by 9 per cent, and for condensate a fall of 1 per cent. The production of natural gas increased by 12 per cent and NGL by 9 per cent. In total, the extraction of petroleum products increased. Also see statistics on oil and gas production .
In the extraction industry , intermediate consumption represents a very small share of the production value. In 2012 this share was only 13 per cent in the extraction and pipeline industries together. The intermediate consumption in the two industries consists of consumption of fuel and fuel, maintenance and rental of equipment and other service use. The total intermediate consumption increased by 10 per cent from 2011, and amounted to NOK 96 billion in 2012. The combined value added increased by 3 per cent from 2011, ending at NOK 661 billion in 2012. Value added for extraction industry ended at NOK 619 billion in 2012, up 3 per cent from the year before. This is 2 per cent below the peak in 2008, but 40 per cent higher than the bottom year of 2009.
The investments in oil and gas activities amounted to NOK 172 billion in 2012; an increase of 18 per cent from 2011. The increase was mainly due to high activity in the development of new fields and the fact that many fields are mature and in need of an upgrade. Also see Investment statistics .
The oil service industry employed the most
The oil service industry made up 57 per cent of the total number of employees in the three oil and gas industries as a whole, and 6 per cent of the total value added.
In 2012, the gross value of production amounted to nearly NOK 112 billion. This is an increase of almost NOK 9 billion, or 9 per cent, from 2011. The intermediate consumption had an increase of 10 per cent, to NOK 69.9 billion in 2012. This resulted in an increase in the value added of 7 per cent and was in total 42 NOK billion in 2012. The number of employees in the oil service industry increased by 9 per cent to 33 600 employees.
The investments in the oil service industry, which were negative in 2011, ended at NOK 10 billion in 2012. This was almost as high as the peak year of 2009.
Highest compensation of employees in the extraction industry
The compensation of employees in the extraction and oil service industries reached 1.53 and 0.94 million NOK per employee respectively in 2012. This includes wages, salaries and employers’ contributions. Also see the article Earnings in oil and gas production and mining
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