The Norwegian Experience of Economic Diversification in Relation to Petroleum Industry
Article from: OGEL 4 (2004), in Roundup of Articles
Norway presents a unique experience in an attempt to draw wider economic benefits from the development of a petroleum industry through government intervention and regulation. From the early 1970s to the mid 1990s, the Norwegian government imposed on foreign oil companies to use domestic goods and services, to invest in joint industrial ventures and to transfer knowledge. The industrial venture policy had serious flaws, but the procurement and knowledge policies on the balance appear as significant successes. In the early 1960s, Norway had no indigenous oil or oil services industry; ...