Norwegian oil production rose dramatically from 1980 until the mid-1990s, but has remained flat since then (see chart). During the first 6 months of 2005, Norway's oil production averaged 2.95 million bbl/d. As North Sea fields continue to mature, Norwegian oil production will likely remain steady or decline, though there is some hope that new developments in the Barents Sea will offset some of this decline.

The largest oil field in Norway is the Troll complex, operated by Norsk Hydro, which produced 306,000 bbl/d in 2004. Other important fields include Ecofisk (ConocoPhillips), Snorre (Statoil), Oseberg (Norsk Hydro), and Draugen (Shell). Statoil controls the largest total oil production, producing 1.43 million bbl/d in 2003 from 17 fields.

 

The second-largest producing company in Norway is Norsk Hydro, producing 754,000 bbl/d in 2003. ConocoPhillips is the largest foreign oil producer (309,000 bbl/d) in the country, followed by ExxonMobil (125,000 bbl/d) and BP (121,000 bbl/d). There is a great emphasis on increasing production from existing projects, including the incorporation of smaller satellite fields.

 

Statoil, for example, plans to bring the Svale and Staer fields online by the end of 2005, a project that will take advantage of existing infrastructure at the Norne field. The company is also developing satellite wells at the Asgard field.