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Book Title: Regulating Offshore Petroleum Resources
Editor(s): Pereira, G. Eduardo; Bjørnebye, Henrik
Publisher: Edward Elgar Publishing
Section: Chapter 8
Section Title: Conclusion
Author(s): Pereira, Eduardo G.; Bjørnebye, Henrik
Number of pages: 6
Abstract/Description:
The discovery of huge deposits of petroleum in the North Sea in the late 1960s and early 1970s came at a fortunate time for both Norway and the UK. Both countries were by then well-organized parliamentary democracies based on the rule of law, with well-educated work forces and advanced economies. In other words, both countries were in a good position to start petroleum development around 1970. Consequently, as emphasized by Erik Jarlsby in chapter 2, one factor that should not be underestimated as a contributor to success in North Sea petroleum development is that of sheer luck. As he points out, not only were huge petroleum deposits discovered on the Norwegian Continental Shelf, they were also discovered at the right moment.
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URL: http://www.austlii.edu.au/au/journals/ELECD/2019/1580.html