Oil & Energy
The Oil and Energy sector enjoys a unique position in the Norwegian economy. The country’s petroleum resource base is reaching a mature status, but recent exploration has resulted in several major new discoveries. Oil and gas production and sales will continue to be extremely important toNorwayfor decades to come.
At the same time, Norway is a major producer of renewable energy. Traditionally, hydropower has been the dominant source of Norwegian power generation, and it still supplies a substantial part of domestic demand. In recent years alternative sources of renewable energy and related infrastructure and technology have been rapidly emerging, such as wind power, district heating and carbon capture.
Oil & Gas
The oil and gas activities on the Norwegian continental shelf have been the driving force in Norwegian economy since oil was first discovered in the late 1960’s. Norway is today a world leading producer of offshore oil and gas, and benefits from a strong resource base, technology and inovation, a skilled work force and stable political condition. The industry is facing new challenges in the form of maturing fields, high costs and uncertain oil prices. However, an increase in exploration activities and access for new participants have resulted in several new discoveries, increased innovation and a prolonged lifetime of exisiting fields. Thus, production and sale of oil and gas will continue to be of great importance to Norway for decades to come.
BA-HR’s legal team has vast experience of working closely with a number of major players on the Norwegian continental shelf, and follows the development closely. We have a thorough understanding of the legal framework governing the industry. We advise in large transactions and represent companies in legal disputes. We also assist in connection with major development projects. Furthermore, we have comprehensive experience within the regulatory field including extensive government relations. BA-HR also have firm expertise in energy taxation, appeals and litigation of tax disputes. We represent several large oil companies in complex tax disputes before the tax assessment administration and the court.
Norway is a world leading producer of renewable energy. Most of the Norwegian energy production is based on hydroelectric power. The production capacity is currently expanding through development in wind power and hydroelectric power, amongst others driven by the joint Norwegian/Swedish market for green certificates. Norway was among the first countries to liberalize the energy trading markets. To develop the market further, significant steps are now taken to expand the production capacity for renewable energy, strengthen the Norwegian grid, and to develop new interconnectors to the European markets. The new interconnector that is planned between Norway and Great Britain will be the world’s longest when it is completed by 2021. New production and transmission capacity will open up for new opportunities and investments, in a market where Norwegian producers are expected to benefit from flexible production and trading opportunities.
BA-HRs legal team works closely with several leading players in the Norwegian market. We focus on conditions and regulatory issues, transactions, dispute resolution and tax. We have been involved in most of the major transactions over the last years, and have represented both the major energy producers and international investors. Furthermore, we are continuously involved in a significant proportion of the issues characterising the Norwegian market, including ownership control, tariffs and market regulation.