Norway is the 2nd biggest natural gas exporter in the world, and the 7th for oil. Less than 40% of the estimated oil reserves had been extracted. It is estimated that the total amount of Norway’s oil reserves is over 13.2 billion tons. Oil and natural gas extraction is done in the North Sea, the Norway Sea and the Barents Sea. Oil industry produces over one third of the state budget.
IT has lately become the new flagship of Norway’s industry and is the second-largest land-based industry sector as turnover. Norway has one of the world’s top rate per capit of IT usage and internet use is widespread.