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Doing Business with Norway

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Doing Business with Norway. Did you know that Norway…. Covers 1,100 miles from south to north – same distance as from Oslo to Rome or New York to Miami?. Encourages its citizens to submit income tax returns by cell phone?.

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Did you know that Norway…

  • Covers 1,100 miles from south to north – same distance as from Oslo to Rome or New York to Miami?
  • Encourages its citizens to submit income tax returns by cell phone?
  • Ranked 1st on UN’s index of best countries to live in for 5 years in a row?
  • Is the world’s 3rd largest exporter of both oil and gas?
  • Produces 99% of its electricity based on renewable hydropower?
  • Has a GDP per capita higher than the United States?
  • Is extremely ICT savvy – that 85% of 10 year olds have cell phones?
  • Was chosen by Google for location of its latest R&D facility?
  • Has the largest investment fund in Europe, valued at $300 billion – same as GDP?
  • Is currently building Europe’s first export terminal for LNG?
norway major economic sectors
NorwayMajor Economic Sectors

US - Norway Trade

  • $10.5 billion total.
  • $4.5 billion in petroleum from Norway.
  • $2 billion in machinery, ICT and transportation equipment from the US.
  • Energy - Oil/Gas/Renewables
  • ICT
  • Shipping/Marine Technology
  • Fisheries/Aquaculture
  • Metals
  • Pulp and Paper
  • Defense and Aerospace
  • Environmental Technologies
  • Travel and Tourism
norway business climate
NorwayBusiness Climate
  • World-class telecommunication infrastructure and very high ICT literacy.
  • Extensive transportation network by air, sea and roads – roads in some rural areas can be a challenge.
  • Modern logistics and distribution centers.
  • Predictability and stability.
  • High ethical focus.
  • Traditionally active state sector – strong labor movement.
  • High taxes – direct and indirect; marginal rates of about 50%, Value Added Tax of 25%, high fuel and auto taxes, and high “sin” taxes.
  • Relatively low costs for highly skilled engineers/scientists.
  • High labor costs/short working hours/long vacations.
  • Selling Factors
  • Norwegian companies are generally willing to pay for quality.
  • To Norwegians “new” is not necessarily better.
  • Hard selling techniques will get you nowhere in Norway.
  • Norwegians are typically not “tactical” negotiators; if they say your product is too expensive, they probably mean it.

NorwayOil and Gas Sector

  • Major Annual Investments
  • Norway’s most significant industry.
  • Projected 2007 investments: $17 billion.
  • 3 million barrels produced every day.
  • Production only offshore.
  • Statoil and Hydro are major customers and will merge in 2007; Statoil places orders for $5-6 billion annually from local suppliers.
  • United States holds strong position. Oil companies include ConocoPhillips, ExxonMobil, Chevron, Marathon, and Amerada Hess.

Oil and Gas

Equipment and Services

  • Best Prospects – Technology in Demand
  • Advanced subsea and deepwater technology for extreme arctic waters…
  • CO2 handling - carbon capture and storage.
  • LNG value chain technology.
  • E-field – technology facilitating remote/onshore, real-time operations.
  • Marginal field technology, enhanced recovery, tail-end production.
  • High and growing focus on new and advanced environmental technologies.
  • Technology facilitating cost reductions of any kind.
  • Decommissioning/abandonment technology – alternative use of installations.

Renewable Energy

Green Technologies

  • Best Prospects – Technology in Demand
  • C02 capture and storage.
  • Wind power.
  • Hydropower.
  • Solar power.
  • District heating.
  • Geothermal energy.
  • Waste incineration technologies.
  • Tidal power and wave energy.
  • Electric vehicles – battery technology.
  • Alternative fuel and fuel efficiency – vehicles/ships.
innovative ict industry seeks sophisticated solutions
Innovative ICT Industry Seeks Sophisticated Solutions
  • Large public ICT contracts: new national pension reform, bank ID/biometric ID cards, citizen portals.
  • Applications for energy sector: real-time remote operations for extreme conditions, advanced seismic data visualization software, security systems.
  • Applications for healthcare technologies: telemedicine, electronic patient records, data handling/storage, logistics software.
  • IP technology, Internet and wireless services and content, non-voice services, advanced security measures.
  • Shipbuilding and offshore design, simulation and construction solutions, logistics software.
  • Enterprise Resource Planning software for SMEs.
healthcare technologies biotechnology
Healthcare TechnologiesBiotechnology
  • 85 state-owned hospitals managed by four regional health enterprises.
  • Current investment plans valued at $3 billion.
  • $250 million annually in medical equipment procurements.
  • Telemedicine/e-medicine growing in importance.
  • Reduction of occupancy rates – cutting overall costs.
  • Biotech
  • Cancer research.
  • Marine biotech/Aquaculture.
  • Bioprospecting.
  • Biobanks.
  • Animal biotech.

Competitive Shipping and Offshore Cluster

  • Norwegianfleet 5th largest in the world.
  • Fleet of mobile offshore rigs 2nd largest, after the United States.
  • 15% of world fleet for offshore services.
  • Two of the three largest ship brokerages.
  • 10% of world’s maritime banking services.
  • Underwriters account for 20% of insurance.
  • Norwegian classification companies classify 15% of world tonnage.
  • Oslo Stock Exchange regarded as the world’s largest shipping exchange.

USA Pavilions at Trade Shows

  • Nor-Shipping 2007
  • Oslo – June 12-15, 2007
  • (Shipping and Maritime)
  • Reiseliv 2008
  • Oslo – Janurary 10-13, 2008
  • (Travel and Tourism)
  • Offshore Northern Seas 2008
  • Stavanger – August 26-29, 2008
  • (Oil and Gas)

Following Up

Please contact us to take advantage of U.S. and Norwegian trade and investment opportunities.

The American Embassy in Oslo’s Web site is “”; the Commercial Section’s is “”

Thank you!