Because Norway shares the North Sea region with the United Kingdom, the two must coordinate efforts when dealing with reserves that straddle the division of each countries' respective zone. In April 2005, the two countries signed a bilateral treaty detailing the handling of such resources.

The treaty was the first step toward a general framework for inter-boundary Oil projects, as previous projects have been governed by separate treaties and negotiations. In the Barents Sea, Norway has worked with Russia to jointly develop the giant Shtokman gas field and jointly pursue other oil and gas projects in the area.

Because Norway only consumed 244,000 bbl/d in 2004, the country is able to export the vast majority of its oil production. In 2003, Norway was the third-largest net oil exporter in the world, behind Saudi Arabia and Russia. The largest single recipient of Norway's exports is the United Kingdom, which imported 814,500 bbl/d from Norway, or 34 percent of Norway's total exports. Other significant destinations included the Netherlands, the United States, and Germany.