IMPORTANT YEARS IN THE HISTORY OF NORWEGIAN OIL
1958 |
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UN
Genève convention; Havretts conference. The usage of the global oceans is
described in a new rule set. Norway has at this point given up on the possibility
of finding oil in the Nordic Sea. |
1959 |
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Oil
is found in Groningen, Netherlands, which means there might be oil in the
Nordic Sea. The international interest for the Norwegian coast increases. |
1964 |
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The
Nordic Sea is divided. |
1965 |
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Norway
divides its ocean territory into squares, and the search for oil begins
(again). |
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In the following years a few very small discoveries are
made. |
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1969 |
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Discovery
of oil at Ekofisk. |
1971 |
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Norway
describes a set of laws regarding the national control of oil production. |
1972 |
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Statoil
is founded. |
1973 |
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The
Ekofisk oil tank is complete. |
1974 |
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Offshore
North Sea conference. |
1975 |
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The
war between Israel and the Middle East causes the oil price to increase 4
times. This causes a drop in the usages worldwide. |
1980 |
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The
Alexander L. Kielland disaster. 123 killed when an oil platform collapses. |
1984 |
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SDØE
(The direct economic engaging of the State) is founded, because of Statoil’s
increasing influence and power. Now
the State is in total control of the oil fields. |
1986 |
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Oil
crisis. |
1987 |
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"Vår
felles framtid" by Gro Harlem Brundtland, creates focus on global warming. |
1994 |
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EØS
agreement. Norway is now bound to the EU inner market and is forced to
reevaluate its oil policy. |
1995 |
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Statoil
and SDØE lose their rights of being majority owners on the Norwegian oil
fields. |
1996 |
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Opening
of Troll Gas, and at the same time the area ownership is transferred from
Shell to Statoil. |
1998 |
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The Norwegian oil capital is estimated to
be 1 billion NOK. |
1999 |
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A new crisis in the industry is forcing
smaller companies to surrender to the bigger ones. This creates an industry
of less, but
bigger companies. |
2000 |
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Statoil
offers stocks on the market. |
2004 |
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‘Petroleum
Tilsynet’ is founded. |
2007 |
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Statoil
and Hydro are merged. |
2010 |
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Discovery
of "Johan Sverdrup", a huge oil storage outside of Stavanger. |
2011 |
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For
a while the oil production costs were rising and so was the oil price. But in
2011 the oil price stabilized, and the costs of production kept growing. The period after is known as
a tough period in time for the oil companies. |
2014 |
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Because
of the low profit, the oil companies were now really forced to prioritize the
projects they would invest in and that meant a temporarily stop in the development of
the Norwegian oil industry. |