Oil production in Norway saw a noticeable decline between 2001 to 2013, dropping from 3.4 million barrels per day to 1.8 million. Since then, production experienced a slight recovery and amounted to around two million barrels by 2023. In the first quarter of 2019, Norway made five oil and gas discoveries in its territories.
Global context
Whilst Norway is not one of the biggest oil producing countries in the world, meeting around two percent of the global oil demand, it is still an important exporter. In fact, most of the oil that is produced on the Norwegian shelf is exported and represents a significant source of the country’s revenue. In 2019, 29 billion U.S. dollars’ worth of crude oil was exported. In 2018, approximately 61.1 million metric tons of crude oil were exported from Norway via pipelines and ships.
Depleting North Sea reserves
As of 2020, Norway’s oil reserves amounted to one billion metric tons, a decline of 0.3 billion metric tons when compared to the turn of the century. The North Sea is Norway’s most explored territory, with approximately 65 fields. However, potentially 50 percent of Norway’s undiscovered resources are located in the Barents Sea.
Oil production in Norway from 2000 to 2023
(in 1,000 barrels per day)
This report was previously published by BP.
Figures include crude oil, shale oil, oil sands, condensates and NGLs. Liquid fuels from other sources such as biofuels and synthetic derivatives of coal and natural gas are excluded, as well as oil shales/kerogen extracted in solid form.
This statistic was compiled using several releases of the publication.
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Energy Institute. (June 20, 2024). Oil production in Norway from 2000 to 2023 (in 1,000 barrels per day) [Graph]. In Statista. Retrieved December 14, 2024, from https://www.statista.com/statistics/265186/oil-production-in-norway-in-barrels-per-day/
Energy Institute. "Oil production in Norway from 2000 to 2023 (in 1,000 barrels per day)." Chart. June 20, 2024. Statista. Accessed December 14, 2024. https://www.statista.com/statistics/265186/oil-production-in-norway-in-barrels-per-day/
Energy Institute. (2024). Oil production in Norway from 2000 to 2023 (in 1,000 barrels per day). Statista. Statista Inc.. Accessed: December 14, 2024. https://www.statista.com/statistics/265186/oil-production-in-norway-in-barrels-per-day/
Energy Institute. "Oil Production in Norway from 2000 to 2023 (in 1,000 Barrels per Day)." Statista, Statista Inc., 20 Jun 2024, https://www.statista.com/statistics/265186/oil-production-in-norway-in-barrels-per-day/
Energy Institute, Oil production in Norway from 2000 to 2023 (in 1,000 barrels per day) Statista, https://www.statista.com/statistics/265186/oil-production-in-norway-in-barrels-per-day/ (last visited December 14, 2024)
Oil production in Norway from 2000 to 2023 (in 1,000 barrels per day) [Graph], Energy Institute, June 20, 2024. [Online]. Available: https://www.statista.com/statistics/265186/oil-production-in-norway-in-barrels-per-day/