ABSTRACT

One way to measure Norway's oil wealth is in terms of reserves. The difficulty is that no one knows for sure how much oil and gas there is on the continental shelf, particularly off north Norway. The North Sea, along with the north slope of Alaska, must help to fill the gap until other energy sources come onstream." Technology also interacts with price. As the price goes up, more and more sophisticated systems become possible. As Norwegian Industry Minister Gjerde remarked in a speech to the Nordic Council in Helsinki in 1977, Norwegian oil production in the beginning of the 1980s is expected to be about 60 percent of the total oil consumption of the Nordic countries. Ekofisk is already making a significant contribution to the continent's gas supplies. Frigg, when in full production, will furnish about a third of the United Kingdom's gas requirements.