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The European Oil and Gas Capital
The Stavanger region is Norway's third largest region with more than 300,000 inhabitants. Stavanger's oil adventure began in 1969 with the discovery of oil in the southern North Sea field, Ekofisk. Since then, the town has transformed from an industrial trading town with a rich agricultural hinterland into an energy centre.
As Europe's oil and gas capital, Stavanger now houses all major international operators, around 280 oil service companies, all the main suppliers along with Norway's official administrative centre for the petroleum industry. Both the Norwegian Petroleum Directorate and the Petroleum Safety Authority Norway are located here. This convergence of industry players has resulted in one of the strongest energy clusters in the world.
Half of the Entire Norwegian Oil and Gas Industry Concentrated in One Region
Some 45,000 people in our area are employed in the petroleum sector – the equivalent of half the people working in Norway's entire oil and gas industry. Once every second year the city also welcomes the global oil, gas and energy industry to one of the world’s leading energy meeting places, ONS.
The World's Offshore Laboratory
The Norwegian Continental shelf is a challenging petroleum exploration and production area; hence it has become an international testing ground for new technology.
Stavanger nurtures a strong research and development environment anchored around the university and numerous research centres developing cutting edge technology in several fields, such as, remote operations, underwater operations and drilling.
The research community is strongly supported by several financial players providing venture capital for establishing and developing companies specializing in new technology for the oil and gas business.
The Future Looks Bright
Norway has been one of the largest oil and gas exporters in the world for a number of years. It still has resources to make it a substantial oil producer for another 50 years. We will be an important gas nation for at least another century, estimated to provide up to 1/3 of Europe's gas needs in the near future.
Energy facts about the Stavanger region:
Energy facts about Norway:
- Stavanger is Europe's Energy Capital
- Home of StatoilHydro headquarters
- Home of the Norwegian Petroleum Directorate
- Half of the total Norwegian oil and gas industry is located in the Stavanger region
- Sixth largest oil producer in the world
- Third largest oil exporter in the world
- Total oil and gas resources: 13 billion boe
- Produced to date: 2.7 billion boe
- 20% produced – 80 % reserves
- The Norwegian petroleum industry has a long-term perspective
- Norway plans to become the primary UK gas supplier through new and existing Pipelines
- In coming years, Norway will supply approximately 25 % of Europe's gas requirements
- Annual investments on the Norwegian Continental Shelf is estimated to approximately USD 22 billion
- All of Norway's electricity needs come from hydroelectric power