This is an archived release.
High value from oil and gas activity
The value of production in the Norwegian oil and gas industry, including pipeline transport, had an increase of NOK 100 billion in 2005. Value added amounted to NOK 4811 billion, which is a 30 per cent increase from 2004. The increase was mainly due to high oil prices and increased production of natural gas. The production of crude oil in Norway decreased in 2005.
The oil and gas activity in Norway is covered by the three areas extraction of crude oil and natural gas, the service industry including drilling and the pipeline transport industry. The gross value of production in the oil and gas activity amounted to NOK 547 billion in 2005, against NOK 4281 billion in 2004. This is a 28 per cent increase. Intermediate consumption increased by 111 per cent to NOK 661 billion. The oil and gas industry employed around 29.000 people in 2005, almost unchanged from 2004. Wage costs increased by 12 per cent.
Production decreased - increased value
More than 90 per cent of the total value added from the oil activity origins from the extraction industry. Value of production increased by 29 per cent in this industry, and totaled NOK 4941 billion in 2005. The valued added came to NOK 4481 billion, up 30 per cent from 2004.
Total production of crude oil and natural gas on the Norwegian continental shelf decreased in 2005. Most fields decreased their production of crude oil from 2004 to 2005, but increased oil prices resulted in only one or two fields decreasing the value of production. The production of crude oil decreased by 7.7 per cent in 2005. The production of natural gas increased by 8 per cent in 2005, but this was not enough to maintain total production of petroleum.
The extraction industry had 16.800 employees in 2005, a slight increase from 2004.
Increased activity in the oil service industry
The service industry includes drilling and technical services directly to the extraction activity. The gross value of production in the service industry amounted to NOK 32 billion in 2005, an increase of almost 20 per cent from 2004. With an intermediate consumption amounting to NOK 18 billion, value added ended on NOK 14 billion. The service industry had a decrease in employment of around 500 people, to a total of 11.800 employees. Wage costs increased by 12 per cent.
Stable increase in pipeline transport
The pipeline transport industry had a gross value of production of NOK 20 billion in 2005. An intermediate consumption of NOK 1.71 billion resulted in a value added of NOK 18.31 billion. This is a 121 per cent increase from 2004. Employment in the pipeline industry lies stable at around 600 employees.
|Corrected 6 December 2006.