92678_not-searchable
/en/energi-og-industri/statistikker/oljev/aar
92678
Increased oil prices gave increased value added
statistikk
2013-03-20T10:00:00.000Z
Energy and manufacturing
en
oljev, Extraction and related services, petroleum activity, oil production, gas production, pipeline transport, employees, wage costs, value added, production value, product input, added value, services, drillingOil and gas , Energy and manufacturing
false

Extraction and related services2011, preliminary figures

Content

Published:

This is an archived release.

Go to latest release

Increased oil prices gave increased value added

The value added in the Norwegian oil and gas sector amounted to NOK 640 billion in 2011, an increase of 22 per cent from 2010. The increase came as a consequence of a strong increase in oil and gas prices.

Annual statistics oil- and gas activity
2011Change in per cent
NOK million/numberShare2010 - 20111998 - 2011
Total employees54 62310012.1127.2
Extraction of oil and natural gas23 65443.38.949.1
Support activities for petroleum and natural gas extraction30 75456.314.6280.6
Transport via pipelines2150.44.9..
Total value of production (NOK million)791 19910018.1358.4
Extraction of crude petroleum and natural gas670 00884.721.9382.8
Service activities incidental to oil and gas extraction excluding surveying102 98813.03.1451.1
Transport via pipelines18 2032.3-12.520.4
Intermediate consumption, total (NOK million)150 7161004.6288.2
Extraction of oil and natural gas85 01556.45.1220.4
Support activities for petroleum and natural gas extraction63 48342.14.4470.6
Transport via pipelines2 2181.5-7.690.2
Value Added, total (NOK million)640 48310021.8378.8
Extraction of oil and natural gas584 99391.324.9421.2
Support activities for petroleum and natural gas extraction39 5056.21.2422.5
Transport via pipelines15 9852.5-13.114.5

The oil and gas activity in Norway consists of the extraction of crude oil and natural gas, service activities incidental to oil and gas extraction and pipeline transport. The production value for these three industries amounted to NOK 791 billion in 2011, an increase of 18 per cent from 2010. The intermediate consumption showed an increase of 4.6 per cent and amounted to NOK 151 billion in 2011. This resulted in a value added of NOK 640 billion for 2011, up NOK 114 billion or 22 per cent from 2010.

Strong increase in oil and gas prices, weak fall in production

The value of petroleum products produced in 2011 increased by 22 per cent to NOK 670 million. This is despite an overall decline in production of nearly 5 per cent, measured in tonnes. The increase in production value was due to rapidly growing prices of both oil and natural gas. Oil prices rose by about 30 per cent from the previous year, while gas prices increased by 26 per cent.

Production by product showed a fall in the production of oil and natural gas, but an increase for condensate and NGL (Natural Gas Liquids). The fall in the production of natural gas came after a steady increase since the turn of the millennium. The increase in the price for oil and gas more than offset the fall in production. Also see Production and reserves, in the right margin.

The extraction industry, which consists of businesses with interests in oil and gas fields, differs from most other sectors of the Norwegian economy in that intermediate consumption represents a very small share of the production value; 13 per cent in 2010. The total intermediate consumption increased by 5 per cent from 2010, and amounted to NOK 85 billion in 2011. The combined value added increased 5 per cent from 2010, and ended on NOK 85 billion in 2011. Value added for the extraction industry ended at NOK 585 billion in 2011, up 25 per cent from the year before. This is still 5 per cent below the peak in 2008.

The investments in the extraction industry amounted to NOK 146 billion in 2011, an increase of nearly 17 per cent from 2010. The incline was mainly due to investments in existing and new fields as a consequence of higher product prices. Also see Investment statistics in the right margin.

Stable value added in the oil service industry

The service industry includes drilling and technical services directly related to the extraction activity.

In 2011, the gross value of production amounted to nearly NOK 103 billion. This is an increase of NOK 3 billion, or 3 per cent, from 2010. The intermediate consumption had a similar increase with 4 per cent. This resulted in a marginal increase in the value added of NOK 0.3 billion, or 1 per cent from 2010 to 2011. This corresponds to a value added in 2011 of NOK 39.5 billion.

Decrease in pipeline transport

The gross value of production in the pipeline transport industry mainly consists of transport tariffs paid by operators and licensees for transportation of oil and gas. In 2011, the gross value of production in the pipeline industry decreased by 12 per cent, and amounted to NOK 18 billion in 2011. With an intermediate consumption of NOK 2.2 billion, value added amounted to NOK 16 billion. This is a 13 per cent decrease from 2010.

Service industry biggest employer, extraction industry biggest value creator

The oil and gas industry employed close to 55 000 people in 2011, an increase of 12 per cent from 2010. Total wage costs increased by 3 per cent, to NOK 54 billion in 2011.

Even though the extraction industry is by far the biggest when it comes to value added, around 89 per cent of the total value added from the three oil and gas industries stems from the extraction industry. However, the industry employed only 45 per cent of the total number of people working in the three oil and gas industries. The service industry was the biggest employer in 2011, with a share of 57 per cent.