Norway is a significant player in the global oil and gas industry.  Norwegian oil and gas production account for 2% and 3%, respectively, of global demand. 

The oil and gas industry is the largest in Norway, contributing 28% of the country’s gross domestic product. Albeit its relatively small size, Norway is a significant energy exporter, with 58% of its exports coming from this industry. 

Norway has a pivotal role in the Oil and Gas industry. According to the Norwegian Offshore Directorate, the country has increased its gas production between 2023 and 2024, from 233.3 million Sm³ to 240.6 million Sm³ produced respectively. The future seems to be bright, with a large number of projects targeting start-ups by 2027. Norway is an important player as an energy exporter, with 61% of its exports coming from this industry in 2024.