Testing the split of economic ownership for petroleum resources in Norway
Working paper
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https://hdl.handle.net/11250/3130193Utgivelsesdato
2023-05Metadata
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Sammendrag
Based on the Norwegian experiences, a long-term average pattern is identified as regards the
distribution of resource rent due to petroleum activities, which can be used to split the economic
ownership of oil and gas between the government and the oil and gas sector in Norway. The
splitting is suggested to be carried out in the year when extracting activities start and no further
splitting is needed for the following years until significant changes in extraction arrangements take
place. In addition, the actual flows of the resource rent as recorded in both the National Accounts
and the Government Finance Statistics between the government and the extractor in each year are
suggested not to be changed. Though the concrete implementation is conditional on the final choice
of the definition and estimation of the resource rent and the resource value, splitting asset is
feasible. Another conclusion from the paper is that the current practice in Norway for setting up and
managing the GPFG fund is in line with a sustainability criterion.