THE WINDS OF CHANGE IN THE NORDIC INDUSTRY

The oil and gas sector represents some 15 % of the Norwegian gross nat ional product and employs about 80.000 persons. In the future, however , lower oil prices and fewer and smaller Norwegian oil finds are to be expected, together with new risks and increased environmental pressur es. Under these circumstances it is a great challenge to sustain compe titiveness. The Norwegian companies have responded to the challenge by focusing on technology, co-operation, efficiency and cost cutting. On the level of a single firm this implies increased delegation of respo nsibility and flatter hierarchical structures. The industry's contribu tion to economic development and employment is based on the existing h igh level of know-how. The public sector should be rendered more effic ient, and its size should be limited.