National Extractive Industry Transparency Initiative

BP Norway's main activity is exploration for and production of oil and gas on the Norwegian Continental Shelf. BP Norge operates four fields on the Norwegian continental shelf. In addition, BP is a partner in the Draugen field. Two large development projects are being planned: the development of the Skarv field off Nordland and a new field centre for Valhall.

"Gassco was established by the Ministry of Petroleum and Energy on 14 May 2001 as a wholly state-owned limited company. It took over the operatorship for all gas transport from the Norwegian continental shelf on 1 January 2002-03. Gassco is responsible as operator for transporting Norwegian gas to continental Europe and the UK through a 7 800-kilometre network of pipelines. The company carried 88.5 billion cubic metres of dry (sales) gas to market in 2006, corresponding to about 15 per cent of European gas consumption. The oldest part of the network was built in the mid-1970s, and it is constantly being extended. Planning the gas transport system represents a complex job with many participants. Gassco’s architect role gives it responsibility for assessing needs and coordinating further development of the gas transport system. The aim is to ensure that Norway has an integrated and well-run network which ensures optimum utilisation of its offshore resources. In its role as capacity allocator, Gassco is required to provide access to the gas transport system on objective and transparent terms. These must serve all gas shippers and contribute to the most efficient possible utilisation of Norwegian offshore resources. "

Norway is a strategic and growing core area for Marathon, which complements the Company's longstanding operations at Brae in the U.K. sector of the North Sea. Marathon was approved for the Company's first operatorship on the Norwegian Continental Shelf in 2002, where today the Company operates seven licenses.

The Ministry of Petroleum and Energy is responsible for the State’s direct financial interest (SDFI) and for the State’s shareholding in StatoilHydro ASA, Petoro AS and Gassco AS. In addition, the Ministry of Petroleum and Energy is responsible for the Government Petroleum Insurance Fund. The government regards it as very important for the state to play a role as a substantial, long-term and stable owner in order to retain a Norwegian base for StatoilHydro. The SDFI arrangement was established in 1985. The arrangement implies that the Norwegian State participates in the Norwegian petroleum sector directly as an investor. The SDFI has a direct financial interest in 121 production licences.

"StatoilHydro is an integrated technology-based international energy company primarily focused on upstream oil and gas operations with its' headquarters in Norway They have more than 30 years of experience from the Norwegian continental shelf, pioneering complex offshore projects under the toughest conditions. Their culture is founded on strong values and a high ethical standard. They aim to deliver long-term growth and continue to develop technologies and manage projects that will meet the world’s energy and climate challenges in a sustainable way. StatoilHydro is listed on NYSE and Oslo Stock Exchange."