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Authors: Mark Esposito (Grenoble Ecole de Management); Kim Kvalsund (Grenoble Ecole de Management); Marko Aleksov (Grenoble Ecole de Management); Ingrid Homs Garcia (Grenoble Ecole de Management); Apoorv Mangla (Grenoble Ecole de Management); Emir Boelen (Grenoble Ecole de Management); Jeffrey Egbagbe (Grenoble Ecole de Management); Arlenka Osorio (Grenoble Ecole de Management)
Published in: 2011
Length: 42 pages
Data source: Published sources

Abstract

Located in Northern Europe with a population closing on 5 million inhabitants, Norway has spent the last decades transforming into one of the wealthiest countries in the world with GDP per capita measuring second at US$79,089 in 2009 according to The World Bank. As the world’s 14th largest oil producer, the petroleum sector accounting for 21 percent of created value in Norway is in the front seat, thriving in this resource based economy. However, this growth does not come without strategic challenges. As the oil fields on the Norwegian continental shelf are facing maturity and world demand for oil is estimated to decline over the next centuries, the whole economy is facing an issue of restructuring the basis of growth from resource based to knowledge based. Further explained, short term benefits gained from the profitable petroleum model have to be replaced by a more sustainable model fulfilling energy demand through an increasingly larger proportion of green energy sources. Will Norway take advantage of its economic prosperity to shift its economic model in the years to come?
Location:
Industry:
Size:
Large
Other setting(s):
2011

About

Abstract

Located in Northern Europe with a population closing on 5 million inhabitants, Norway has spent the last decades transforming into one of the wealthiest countries in the world with GDP per capita measuring second at US$79,089 in 2009 according to The World Bank. As the world’s 14th largest oil producer, the petroleum sector accounting for 21 percent of created value in Norway is in the front seat, thriving in this resource based economy. However, this growth does not come without strategic challenges. As the oil fields on the Norwegian continental shelf are facing maturity and world demand for oil is estimated to decline over the next centuries, the whole economy is facing an issue of restructuring the basis of growth from resource based to knowledge based. Further explained, short term benefits gained from the profitable petroleum model have to be replaced by a more sustainable model fulfilling energy demand through an increasingly larger proportion of green energy sources. Will Norway take advantage of its economic prosperity to shift its economic model in the years to come?

Settings

Location:
Industry:
Size:
Large
Other setting(s):
2011

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