The petroleum activities have been crucial for Norway’s economy for more than 40 years. In 2012, the petroleum sector represented 23% of the country’s total value creation. Norway is ranked as the seventh largest oil exporter and the fourteenth largest oil producer in the world. 1.9 million barrels of crude oil per day were produced that year, or 2.1% of the world total. In 2011, Norway was the world’s third largest gas exporter and the world’s sixth largest gas producer. Norway's proved hydrocarbon reserves have been in decline over the past decade. At the end of 2012, proved oil reserves of 7.5 billion barrels of oil or 0.4 % of the world's reserves (Source: BP Statistical Review of World Energy 2013 and Facts 2013).
- Disaggregated reporting by company and revenue stream.
- Comparison with other sources (Norwegian state accounts).
- EITI regulation under Petroleum law that mandates EITI reporting and setting timeline.
- The EITI Reports are produced by the reconciler using the International Standard on Related Services (ISRS) 4400: "Engagements to Perform Agreed-upon Procedures Regarding Financial Information".
- Making the EITI data available in an Excel file and on the government data transparency portal.