ABSTRACT
Over the years Norway’s governance of its petroleum sector has been exemplary. This chapter explores the main attributes of the highly extolled Norwegian Model (Approach). It systematically highlights the tenets of the Model that have made the administration of Norway’s petroleum resources the envy of many oil-producing countries and a role model for several host nations to emulate. Commencing with governance of the sector, features discussed include legislation, national steering, host nation participation and petroleum administration. Also addressed are licensing rounds, diversity in licensing, joint venture agreements, the fiscal regime, openness, integrity and transparency and the development of national expertise. The final set of issues discussed are health, safety and environmental protection (HSE), internal control, improved oil recovery (IOR), regional optimization, gas issues as well as joint cooperation between Norway and licensees.
