Norway’s economy is closely linked to the utilization of natural resources. The traditional industries based on natural resources, agriculture, forestry and fisheries, together accounted for about 1.5 % of GDP in 2006, and are important for the maintenance of many communities and local culture.  Extraction of oil and natural gas is Norway’s most important industry and has contributed significantly to her economic growth.  In 2006, the petroleum sector accounted for approximately 25 % of GDP and 50 % of Norway’s export revenues. Since oil was discovered off the coast of Norway in 1965, the country has developed into the third largest oil exporter in the world. Despite more than 30 years of production, only approximately 35 % of the expected total resources on the Norwegian continental shelf have been produced.  Hence there is a huge potential for further value creation.