Companies choose to establish in Norway to develop and commercialise new technologies, hone their competitive edge, and access key players in one of the world's most influential energy producing nations.

Norway is currently the sixth largest hydropower producer in the world and the largest in Europe. Hydropower accounts for 99 per cent of the electricity generated in Norway. As a result of the liberalisation of the Nordic power market in the early 1990s, the world's first multinational commodity exchange for electric power, Nord Pool, was established with headquarters in Oslo.

Petroleum - past, present and future

Norway is the third largest exporter of petroleum in the world. It is estimated that petroleum production on the Norwegian Continental Shelf can continue for another 50 – 100 years. Due to the fact that only 20 per cent of known resources have been exploited, the Norwegian Continental Shelf still harbours substantial unrealised value potential. With anticipated technological development it is believed that more than 50 percent of oil reserves can be produced.

Offshore engineering in oil companies and R&D institutions is crucial to further innovation in the Norwegian petroleum industry, driving the development of new technical solutions for oil and gas recovery. Areas of particular focus in the Oslo region are seismic exploration, sub-sea installations, floating production solutions, drilling technology, reservoir technology and advanced well technology. At present, the deep-water and sub-sea markets appear to offer the most potential for new and more cost-effective technology. Norway and the Oslo region already command a global lead in development in both these fields.

New energy, new markets

What will be the major energy source 30, 40 or 50 years from now? The answer probably lies in a combination of several sources, both conventional and renewable. Research and development in Norway and the Oslo region reflects the search for knowledge in this field.  As a major urban development area, the Oslo region is particularly important as a test bed for new and sustainable energy solutions such as de-centralised and local energy production sites. Companies and research institutions in the region are vital contributors, nationally and internationally, to the development of four principal renewable energy sources: hydrogen, biomass, wind and solar energy.