Sector

Oil and gas

584 companies ranked against comparable companies in three size tiers. Fiscal year 2025. Source: Brønnøysund Register Centre. Methodology

Large

Large · 2025
#	Company	Profile	Score	Change
1	SUBSEA 7 HOLDING NORWAY AS	Leader	94	+32
2	METEVA AS	Leader	85	+21
3	EQUINOR REFINING NORWAY AS	Leader	81	+68
4	EQUINOR MURZUQ AS	Leader	78	+5
5	OCEANEERING AS	Leader	74	+14
6	EQUINOR IN SALAH AS	Leader	71	+14
7	REACH SUBSEA SHIPPING AS	Leader	71	+1
8	INTERWELL HOLDING 2 AS	Leader	68	−8
9	EQUINOR ANGOLA BLOCK 31 AS	Leader	68	+6
10	EQUINOR IN AMENAS AS	Leader	67	+4
11	OCEAN INSTALLER AS	Leader	67	+21
12	DOF SUBSEA NORWAY AS	Leader	66	−7
13	NORSKAN AS	Steward	65	+8
14	IKM HOLDING AS	Leader	65	+3
15	ALLSEAS NORWAY AS	Steward	64	+18
16	EQUINOR ANGOLA BLOCK 15 AS	Leader	63	0
17	HALLIBURTON AS	Steward	63	+6
18	EQUINOR E&P AMERICAS AS	Steward	63	+2
19	BILFINGER ISP OFFSHORE NORWAY AS	Steward	62	+5
20	INPEX IDEMITSU NORGE AS	Leader	62	−9
21	ODFJELL DRILLING AS	Sprinter	61	+1
22	BEERENBERG AS	Steward	61	−6
23	ODFJELL INVEST AS	Steward	60	+18
24	INTERWELL NORWAY AS	Leader	60	−5
25	IKM TESTING AS	Leader	59	+1
26	SUBSEA 7 NORWAY AS	Sprinter	59	−7
27	KAEFER ENERGY AS	Sprinter	55	+5
28	INTERWELL HOLDING 1 AS	Leader	55	−5
29	COSL OFFSHORE MANAGEMENT AS	Steward	54	−2
30	CIMC OFFSHORE AS	Sprinter	54	+20
31	ORLEN UPSTREAM NORWAY AS	Leader	53	−6
32	WOOD GROUP NORWAY AS	Builder	52	+15
33	APPLY AS	Builder	51	+8
34	ONESUBSEA AS	Sprinter	50	+6
35	A/S Norske Shell	Sprinter	50	+6
36	EQUINOR DEZASSETE AS	Sprinter	50	−2
37	EQUINOR ANGOLA BLOCK 17 AS	Sprinter	49	0
38	OCEAN INSTALLER II AS	Steward	49	0
39	ODFJELL INVEST II AS	Builder	48	+17
40	DEEPOCEAN AS	Sprinter	48	−11
41	PARTNERS GROUP SWAN HOLDING AS	Sprinter	47	−27
42	ARCHER OILTOOLS AS	Sprinter	47	+2
43	TOTALENERGIES EP NORGE AS	Sprinter	47	−7
44	AKER SOLUTIONS AS	Builder	47	+10
45	OMV NORGE AS	Sprinter	45	+5
46	ARCHER AS	Builder	45	+8
47	STATHOLDING AS	Steward	44	+16
48	H&P DRILLING NORGE AS	Builder	43	+4
49	DEEP SEA DRILLING COMPANY AS	Builder	43	+9
50	WEATHERFORD NORGE AS	Steward	43	+27
51	CONOCOPHILLIPS SKANDINAVIA AS	Sprinter	42	+3
52	LINJEBYGG AS	Builder	41	−1
53	ENHANCED DRILLING HOLDING AS	Steward	40	−8
54	NOV PROCESS & FLOW TECHNOLOGIES AS	Builder	39	−14
55	ENHANCED WELL TECHNOLOGIES AS	Steward	39	0
56	OLYMPIC SUBSEA ASA	Builder	39	−9
57	DEEP SEA RIG AS	Builder	39	−4
58	EQUINOR NIGERIA AS	Steward	38	−1
59	BEERENBERG SERVICES AS	Builder	38	−5
60	EQUINOR ENERGY INTERNATIONAL AS	Steward	37	−23
61	OCEAN INSTALLER HOLDING AS	Steward	37	−24
62	SCHLUMBERGER NORGE AS	Builder	36	−3
63	INEOS E&P NORGE AS	Builder	36	+7
64	ODFJELL OPERATIONS AS	Builder	35	+9
65	OLYMPIC SUBSEA SHIPHOLDING AS	Steward	35	−22
66	ARCHER NORGE AS	Builder	35	−2
67	DEEP SEA MANAGEMENT AS	Builder	32	+7
68	EQUINOR MIDSTREAM & TRADING AS	Steward	32	−2
69	SPIRIT NORWAY HOLDING AS	Steward	32	−27
70	REPSOL NORGE AS	Builder	26	−22
71	H&P MODU OPERATIONS AS	Builder	26	+1
72	SPIRIT ENERGY NORWAY AS	Builder	22	+3
73	EQUINOR NORSK LNG AS	Builder	21	−43
74	EQUINOR APSHERON AS	Builder	20	−36
75	KISTOS ENERGY (NORWAY) AS	Builder	17	−18
76	LIME PETROLEUM AS	Builder	16	−24
77	NORTHERN OCEAN WIND AS	Builder	10	−22

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Medium

Medium · 2025
#	Company	Profile	Score	Change
1	H&P NORGE AS	Leader	86	+1
2	CAPEOMEGA GAS TRANSPORTATION AS	Leader	85	+25
3	EQUINOR ENERGY LIBYA AS	Leader	79	+54
4	STOLT-NIELSEN HOLDING AS	Leader	78	+26
5	DELMAR SYSTEMS AS	Leader	76	+37
6	ENHANCED DRILLING AS	Leader	75	+11
7	NORTH SEA ENABLER AS	Leader	75	+13
8	OMEGA SUBSEA AS	Leader	73	−3
9	OLYMPIC ARTEMIS AS	Leader	73	+5
10	SIAI HOLDING AS	Steward	72	+2
11	RGA ENERGY HOLDINGS AS	Steward	72	−7
12	ØCH INVEST AS	Steward	71	−1
13	TCO NORWAY AS	Sprinter	71	+28
14	OLYMPIC ARES AS	Leader	71	−4
15	ONSITE TREATMENT SERVICES AS	Leader	70	+10
16	GRAND CANYON 2 AS	Leader	70	+2
17	HAVILA SUBSEA AS	Leader	70	+8
18	OLYMPIC OPERATION AS	Leader	68	+3
19	EXXONMOBIL EXPLORATION AND PRODUCTION NORWAY AS	Steward	67	−23
20	E PLUG AS	Leader	67	−2
21	OLYMPIC HOLDING CHARTERING AS	Leader	67	+2
22	NORTH SEA GIANT II AS	Leader	66	0
23	FORCE TECHNOLOGY NORWAY AS	Leader	66	+4
24	BELGRAVIA AS	Steward	65	−7
25	REM SALTIRE AS	Leader	65	−14
26	NORTH ATLANTIC AS	Leader	63	+21
27	INDEPENDENT OIL TOOLS AS	Leader	63	−2
28	IK SUBSEA AS	Sprinter	63	+10
29	TOOLSERV AS	Leader	63	+8
30	RAMCO HOLDINGS NORWAY AS	Leader	62	+27
31	PARTNERS GROUP SWAN TRANSPORTATION AS	Sprinter	61	+6
32	EIDESVIK REACH AS	Leader	60	−10
33	GRAND CANYON 3 AS	Leader	60	0
34	BEERENBERG HOLDING AS	Steward	60	−1
35	FLUID CONTROL SERVICE AS	Leader	60	−9
36	NORTH SEA GIANT AS	Leader	60	−12
37	DEEP CYGNUS OPERATION AS	Sprinter	59	+26
38	IKM AQUAMARINE AS	Leader	59	−11
39	GRAND CANYON OPERATION 3 AS	Sprinter	58	+19
40	SEA1 OFFSHORE AS	Steward	58	+15
41	RAMCO NORWAY AS	Sprinter	58	−10
42	DEEPOCEAN GROUP HOLDING AS	Sprinter	57	+7
43	OLYMPIC CHALLENGER AS	Leader	57	−29
44	MORE HOLDCO APPLY AS	Steward	57	−2
45	SEA1 OFFSHORE CREW AS	Leader	57	+16
46	BOKA TOPAZ OPERATION AS	Steward	57	−2
47	STATOIL SP GAS AS	Sprinter	57	+25
48	IZOMAX AS	Leader	56	−12
49	SCAN TECH AS	Steward	56	−7
50	PETROJARL I PRODUCTION AS	Steward	56	−6
51	HAVILA SUBCON AS	Sprinter	55	+1
52	WEST SUPPLY III AS	Leader	55	−23
53	EQUINOR LNG SHIP HOLDING AS	Steward	54	+4
54	INTELLISERV NORWAY AS	Builder	54	−7
55	NORTH SEA SHIPPING AS	Steward	53	+16
56	NORPIPE OIL AS	Sprinter	53	+1
57	ALTERA INFRASTRUCTURE PRODUCTION AS	Sprinter	53	+23
58	KVENNA AS	Sprinter	52	+2
59	OLYMPIC OFFSHORE WIND AS	Sprinter	52	−22
60	AXTECH AS	Sprinter	52	+17
61	DOF SUBSEA REDERI III AS	Sprinter	52	+45
62	BW OFFSHORE NORWAY AS	Sprinter	52	+5
63	EQUINOR PROJECTS HOLDING AS	Steward	51	−11
64	JAPEX NORGE AS	Steward	51	+5
65	AKER SOLUTIONS HOLDING AS	Steward	51	−4
66	REM SUBSEA AS	Sprinter	51	−13
67	SUB SEA SERVICES AS	Sprinter	51	0
68	ALTERA KNARR AS	Builder	50	+13
69	DOF SUBSEA ATLANTIC AS	Leader	50	−1
70	SOLSTAD OPERATIONS HOLDING AS	Steward	50	+12
71	EQUINOR BTC FINANCE AS	Sprinter	49	0
72	KANFA AS	Builder	48	+5
73	SOLSTAD CONSTRUCTION AS	Leader	47	−29
74	SCANA HOLDING AS	Steward	47	−26
75	EQUINOR TANZANIA AS	Steward	47	+8
76	ARCHER VERTIKAL AS	Builder	46	+24
77	OLYMPIC CREWING AS	Sprinter	45	+7
78	NORTH SEA INFRASTRUCTURE AS	Sprinter	44	−9
79	WELLTEC OILFIELD SERVICES (NORWAY) AS	Sprinter	44	+11
80	THREE60 ENERGY NORWAY AS	Builder	44	−7
81	OLYMPIC CREW MANAGEMENT AS	Sprinter	44	+2
82	IKM GRUPPEN AS	Steward	43	−16
83	OLYMPIC OFFSHORE AS	Steward	43	−1
84	IKM INDUSTRI-INVEST AS	Steward	43	+34
85	ON & OFFSHORE SERVICES AS	Sprinter	43	+7
86	GRAND CANYON OPERATION 2 AS	Builder	42	+2
87	PETORO AS	Builder	42	+5
88	VOLANTIS OPERATION AS	Builder	41	−2
89	SOLSTAD SUPERIOR AS	Sprinter	40	0
90	ODFJELL TERMINALS GLOBAL HOLDING AS	Steward	40	−3
91	EQUINOR ANGOLA BLOCK 46 AS	Steward	40	−8
92	SEA1 MARINE CREW AS	Builder	40	+7
93	RIDGE HOLDING AS	Steward	39	0
94	ODFJELL TECHNOLOGY AS	Builder	39	−3
95	AKOFS NORWAY OPERATIONS AS	Builder	39	−5
96	NORMAND DRIFT AS	Steward	38	−29
97	AKER SECURITY AS	Builder	37	+7
98	HAVILA SUBSEA & RENEWABLES HOLDING AS	Steward	37	−4
99	IKM SUBSEA AS	Sprinter	36	+2
100	ENHANCED WELL TECHNOLOGIES GROUP AS	Steward	36	+2
101	FOURPHASE AS	Steward	35	−30
102	LINJEBYGG NORWAY AS	Builder	35	+19
103	AEONIAN 36 AS	Sprinter	34	−20
104	M VEST ENERGY AS	Sprinter	34	−2
105	MOHN DRILLING AS	Builder	33	−29
106	SCORE AS	Builder	33	–
107	ODFJELL TERMINALS US HOLDING AS	Steward	33	−20
108	AKOFS OFFSHORE OPERATIONS AS	Builder	33	−14
109	ISLAND OFFSHORE CREWING AS	Builder	33	+3
110	AKOFS 2 AS	Builder	33	+13
111	TDW OFFSHORE SERVICES AS	Builder	33	−29
112	ATTICA EXPLORATION AS	Builder	32	−1
113	DEEPOCEAN CORPORATE AS	Builder	31	0
114	PETROLIA NOCO AS	Sprinter	29	−5
115	SUBSEAPARTNER AS	Builder	28	−22
116	ODFJELL WELL SERVICES AS	Builder	28	+4
117	PSW TECHNOLOGY AS	Builder	27	−21
118	RIG HERCULES CONTRACTOR AS	Builder	27	–
119	EQUINOR ANGOLA BLOCK 1/14 AS	Steward	27	−13
120	ODFJELL WELL SERVICES NORWAY AS	Builder	26	−5
121	ISLAND DRILLING CREWING AS	Builder	24	+5
122	HAVILA CHARTERING AS	Builder	24	−17
123	DOLPHIN DRILLING OFFSHORE AS	Builder	24	−7
124	SLB KRISTIANSAND AS	Builder	23	0
125	M VEST AS	Builder	22	−15
126	ISLAND OFFSHORE MANAGEMENT AS	Builder	22	−1
127	SOURCE ENERGY AS	Builder	22	−31
128	CONCEDO AS	Builder	22	−3
129	EXPRO NORWAY AS	Builder	20	+7
130	EQUINOR ANGOLA BLOCK 47 AS	Builder	19	−29
131	REM SALTIRE INTERNATIONAL AS	Builder	17	−19
132	EQUINOR BTC CASPIAN AS	Builder	14	−32

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Small

Small · 2025
#	Company	Profile	Score	Change
1	HOVE FINANS AS	Leader	87	+35
2	GULLHEIM HOLDING AS	Leader	85	+37
3	ATNO CONSULTING AS	Leader	83	+5
4	HAVEN RIGCO AS	Leader	83	+35
5	HOGNEST AS	Leader	81	+20
6	CSE OFFSHORE AS	Leader	81	–
7	KAMA CONSULTING AS	Leader	80	+12
8	LTG INVEST AS	Leader	80	+3
9	HAGGI INVEST AS	Leader	80	+5
10	JARALA AS	Leader	80	0
11	SIV.ING. TORGEIR AUNE AS	Leader	80	−3
12	LANGGÅRD AS	Leader	80	0
13	SUBCAP AS	Leader	79	−4
14	EPTEC - ENERGY & PROCESS TECHNIC AS	Leader	78	+9
15	STRINDFJORDEN AS	Leader	78	+4
16	JEPSEN OFFSHORE AS	Leader	78	+6
17	SJØLIE OFFSHORE AS	Leader	78	+6
18	MINERALS GROUP AS	Leader	78	+5
19	LEFDAL WELL CONSULTANTS AS	Leader	77	+6
20	TORE.HALVORSEN AS	Leader	77	+19
21	CINCLUS IV AS	Leader	75	−10
22	PETROLEUM GEO-TECHNOLOGY AS	Leader	75	+9
23	RDS HOLDING AS	Leader	75	−4
24	WELLPARTNER HOLDING AS	Leader	75	+18
25	TECNOR AS	Leader	74	+2
26	OLYMPIC SERVICES AS	Leader	74	+44
27	HILDR AS	Leader	74	+9
28	HV VII INVEST DAGS AS	Leader	73	+11
29	REUTZ CONSULTING AS	Leader	73	−2
30	ICR INTEGRITY NORGE AS	Leader	72	+3
31	CRYSTAL PRODUCTION AS	Leader	72	+23
32	ODIN DIVING NORGE AS	Leader	72	+8
33	NORD AS	Leader	71	−4
34	OLJEVEDLIKEHOLD AS	Leader	71	+13
35	NITROGAS AS	Leader	71	+4
36	FISHFINDER AS	Leader	71	+12
37	JANSEN INVEST AS	Steward	71	+3
38	FRANCON AS	Leader	71	0
39	KIMEK OFFSHORE RESOURCES AS	Leader	70	+1
40	TE AKTIVA AS	Leader	70	−3
41	OMS INVESTERING AS	Leader	70	+21
42	EIDESVIK NEPTUN II AS	Steward	69	+8
43	CEMIKO AS	Leader	69	−2
44	KOMPLEMENTAR CCB AS	Leader	69	+5
45	REM SALTIRE HOLDING AS	Leader	69	+5
46	PROSIK AS	Sprinter	69	+14
47	SIEN AS	Steward	69	+3
48	KJEL OG BRENNERSERVICE AS	Leader	68	−2
49	R.NEVLAND AS	Leader	68	+1
50	RIG PARTNER PROJECT AS	Leader	68	+12
51	NYNAS AS	Leader	68	+1
52	LU CAP AS	Leader	68	+54
53	KVERNVOLD INVEST AS	Steward	68	−5
54	WELL ID AS	Leader	68	+1
55	DOLPHIN DRILLING AS	Leader	67	+37
56	J PERCY AS	Leader	67	+9
57	BUKTA HOLDING AS	Leader	67	−3
58	CAPTROL AS	Sprinter	67	−8
59	TJERBO INVEST AS	Leader	66	−16
60	FC WELL INVEST AS	Leader	66	−13
61	FAMOS ENGINEERING AS	Leader	66	+6
62	HVAC OFFSHORE AS	Leader	66	−3
63	ALTERA INFRASTRUCTURE CREWING AS	Steward	66	+1
64	KOLBEINSVARDEN AS	Leader	66	+15
65	GM DEEPWATER CONSULTANCY AS	Leader	65	+11
66	DET NORSKE OLJESELSKAP AS	Leader	65	+1
67	GC RIEBER SHIPPING AS	Leader	65	+13
68	PETROMARIN HOLDING AS	Leader	65	+6
69	NYE FJELLBERG EIENDOM AS	Leader	65	−1
70	EXPLONOR AS	Leader	65	−9
71	TASTA DRILLING AS	Sprinter	65	+11
72	WEST SUPPLY VII EIER AS	Leader	64	−5
73	MOORE ENERGY AS	Sprinter	64	+18
74	SOUTH EAST MARINE AS	Leader	64	+6
75	SKILBREI PETEK AS	Sprinter	64	+18
76	KONGSLIEN PETROPHYSICS AS	Steward	64	−7
77	DOLPHIN DRILLING OPERATIONS AS	Leader	63	+5
78	S-ENERGY AS	Steward	63	+19
79	NORTH SEA RIGS AS	Sprinter	63	+15
80	RPG NORGE AS	Leader	62	−2
81	EQUINOR INTERNATIONAL WELL RESPONSE COMPANY AS	Steward	62	+18
82	NORTERMINAL FLOATING STORAGE AS	Steward	62	+11
83	EQUINOR RUSSIA ENERGY AS	Leader	62	+17
84	AT-JOA INVEST AS	Leader	61	+5
85	STATOIL IRAN AS	Leader	61	+1
86	CONSTRUCTION SERVICES AS	Leader	61	−9
87	HAVILA HARMONY AS	Sprinter	61	+23
88	LYNX OFFSHORE AS	Leader	61	−10
89	JON LINDMAN AS	Steward	61	−4
90	ARNE STANG INVEST AS	Steward	61	+1
91	DF RENTAL AS	Sprinter	61	+9
92	NØSTE HOLDING AS	Steward	61	–
93	DF GROUP AS	Sprinter	60	+12
94	H. CONSULT AND INVEST AS	Steward	60	−3
95	OPTIMISER AS	Steward	60	−2
96	PRA GROUP EUROPE PORTFOLIO AS	Steward	60	+2
97	IKM AS	Steward	60	+1
98	SANDEX AS	Steward	60	+40
99	OLD KVÆRNER INVEST AS	Sprinter	60	+25
100	MOHR AS	Steward	59	+12
101	AKASTOR ASA	Steward	59	+11
102	JWS GRUPPEN AS	Leader	59	+6
103	ASSET INTEGRITY AS	Sprinter	59	+14
104	EQUINOR CHINA AS	Steward	59	−2
105	SUNDOWN INVEST AS	Sprinter	59	−1
106	GOGC ENERGY NORWAY AS	Steward	59	+2
107	JOHANNES ØSTENSJØ DY AS	Steward	59	+7
108	FLOWPARTNER AS	Leader	58	−8
109	VISION OF ENERGY AS	Steward	58	−2
110	HAUKAAS CONSULTING AS	Leader	58	−2
111	OLYMPIC TAURUS AS	Sprinter	58	−4
112	AMA OCEAN AS	Steward	58	−1
113	SAIPEM NORGE AS	Sprinter	57	−1
114	DIATEK AS	Leader	57	+17
115	AKER SOLUTIONS FINANCIAL HOLDING AS	Steward	57	−9
116	M VEST INVEST 2 AS	Steward	57	−40
117	MANGERUD AS	Sprinter	57	+2
118	KINNA AS	Leader	57	+6
119	REPSOL PERPETUAL NORGE AS	Steward	56	+2
120	BENGT ARE WÅGHEIM HOLDING AS	Sprinter	56	+1
121	PROPROC AS	Sprinter	56	+3
122	ROCKWOOD CONSULTING AS	Sprinter	56	+2
123	AKASTOR AS	Steward	55	+3
124	PSW SOLUTIONS AS	Sprinter	55	+2
125	NORMAND SUPERIOR AS	Sprinter	55	−1
126	NORWEGIAN WELL CONTROL AS	Steward	55	+1
127	KIMEK OFFSHORE AS	Sprinter	54	−8
128	KRAGSET ALT MULIG AS	Sprinter	54	–
129	IQI CERTIFICATION AS	Leader	54	+9
130	NOS RENTAL AS	Sprinter	53	−2
131	INDUSTRIDYKK AS	Sprinter	53	+17
132	SUPERIOR ENERGY SERVICES (NORWAY) AS	Builder	53	−10
133	MYRHAUG MARINE AS	Steward	52	+1
134	ON & OFFSHORE HOLDING AS	Sprinter	52	0
135	SUB AQUA TECHNOLOGY SAT AS	Steward	52	+15
136	GINA KROG AS	Steward	51	−17
137	SEA1 OFFSHORE INVEST AS	Steward	51	−8
138	VHV CONSULTING AS	Steward	51	−34
139	ATLANTIC OFFSHORE ALPHA AS	Builder	51	+2
140	YOUNG EXPLORATION AS	Sprinter	51	−18
141	KOKSTAD CHARTERING AS	Sprinter	51	0
142	AKA SPH AS	Steward	50	−19
143	SCANWELL AS	Sprinter	50	−12
144	TRADE TECH AS	Sprinter	50	+25
145	DEEP C SOLUTIONS AS	Sprinter	50	−3
146	OLYMPIC ELECTRA AS	Sprinter	50	+6
147	PETRICA AS	Steward	50	+5
148	TIOS CREWING AS	Sprinter	50	+4
149	OLYMPIC TRITON II AS	Sprinter	50	−15
150	HAVILA SUBSEA MANAGEMENT AS	Steward	50	−12
151	ARISONAS AS	Builder	50	+11
152	HAVILA SUBSEA CREWING AS	Sprinter	49	+9
153	GLOMAR MINERALS AS	Steward	49	–
154	MORELD GROUP AS	Sprinter	49	+9
155	E INNOVATION NORGE AS	Sprinter	49	−4
156	SAGA OFFSHORE PARTNERS AS	Builder	49	+12
157	ALLOCEAN AS	Steward	49	−1
158	HUNTING ENERGY SERVICES (NORWAY) AS	Steward	48	+7
159	MCPHERSON AS	Builder	48	−28
160	VERTECH OFFSHORE AS	Sprinter	48	−10
161	RUTINE INVEST AS	Steward	48	0
162	WEST SUPPLY VII DRIFT AS	Sprinter	48	−1
163	DF PROPERTIES AS	Sprinter	48	−3
164	CEMAS AS	Sprinter	48	−20
165	EQUINOR ANGOLA BLOCK 25 AS	Builder	47	+2
166	FEISTEIN AS	Steward	47	−17
167	CMO AS	Steward	47	−9
168	NINE DOWNHOLE NORWAY AS	Builder	47	−2
169	ISLAND DRILLING MANAGEMENT AS	Builder	47	+9
170	EQUINOR VENTURES AS	Steward	47	−15
171	WEST ASSET MANAGEMENT AS	Builder	46	+4
172	SUPPLY CHAIN MANAGEMENT SERVICES AS	Builder	46	+1
173	NORTH SEA SHIPPING HOLDING AS	Builder	46	+4
174	KNUTSEN NEW ENERGY AS	Steward	45	0
175	CABRAL AS	Builder	45	+5
176	LANGE RIGGPART AS	Sprinter	45	+38
177	NORTH SEA OFFSHORE AS	Builder	45	+3
178	IK GROUP AS	Sprinter	45	+7
179	MODI VIVENDI AS	Sprinter	45	−4
180	BRIGHTSKIES GEOSCIENCE AS	Steward	44	−1
181	TARGS AS	Steward	44	−15
182	ALFA NORDIC SERVICES AS	Sprinter	44	+2
183	PHRONTESEAS AS	Builder	44	−3
184	RIGHT VIKING AS	Sprinter	43	+33
185	DIESEL CARE AS	Sprinter	43	0
186	IBEX AS	Steward	43	+9
187	EQUINOR ANGOLA AS	Steward	43	−5
188	OLYMPIC SHIP INTERNATIONAL AS	Steward	43	–
189	HAVILA SERVICE AS	Sprinter	43	+18
190	PETRODATA AS	Steward	43	−16
191	OTECH MARINE SERVICES NORWAY AS	Sprinter	43	−7
192	CK DRIFT AS	Sprinter	43	+28
193	SCANA ASA	Steward	43	−2
194	EQUINOR ALGERIA AS	Steward	42	−2
195	LOGE RESOURCES AS	Sprinter	42	−4
196	WELL SUPPORT AS	Sprinter	42	+33
197	WELLPARTNER AS	Steward	41	−15
198	MARDAHL INVEST AS	Steward	41	−41
199	DEEPOCEAN MARITIME AS	Steward	41	+5
200	APC AS	Steward	41	−11
201	INTERWELL AS	Builder	41	+7
202	WAVZ ENGINEERING SERVICES AS	Builder	40	−15
203	GIGGS OIL AND GAS SERVICES AS	Sprinter	40	+4
204	NORTHERN OCEAN WAVE AS	Sprinter	40	+3
205	IKM SUBSEA HOLDING AS	Steward	40	−7
206	JANSEN OG WILLUMSEN SERVICES AS	Builder	40	−8
207	SF-GASS AS	Builder	39	−18
208	HAVILA SUBSEA & RENEWABLES AS	Builder	39	−6
209	IO ULSTEINVIK AS	Builder	39	+3
210	SCMS HOLDING AS	Builder	39	+9
211	BABYSHOP SENGEMAGASINET AS	Sprinter	39	+11
212	MACRO OFFSHORE OPERATIONS AS	Sprinter	38	–
213	M VEST INVEST AS	Sprinter	38	+8
214	ORG ENGINEERING AS	Sprinter	38	+20
215	WELLESLEY PETROLEUM AS	Builder	38	0
216	AKER SOLUTIONS ASA	Builder	38	−4
217	ABILITY HOLDING AS	Builder	37	0
218	VESTERVIND CONTRACTORS AS	Builder	37	−9
219	SUBSEA INSULATION AS	Sprinter	36	−5
220	HAVILA MARITIME DIS I AS	Sprinter	36	−19
221	INGINEERING AS	Steward	36	−6
222	DEEP C HOLDING AS	Builder	35	−7
223	STATOIL ZAGROS OIL AND GAS AS	Builder	35	+5
224	OFFSHORE RESOURCE GROUP AS	Sprinter	35	−5
225	CONNECTOR SUBSEA SOLUTIONS AS	Builder	35	−9
226	TCO GROUP AS	Builder	35	+12
227	REX GEO SOLUTION AS	Builder	35	−15
228	ENHANCED DRILLING INTERNATIONAL II AS	Steward	35	–
229	JERAN HOLDING AS	Builder	34	+5
230	EQUINOR LIBYA AS	Builder	34	+2
231	DET NORDNORSKE OLJESELSKAP AS	Builder	34	+15
232	BISN NORWAY AS	Builder	34	+14
233	TASIK TOBA SUBSEA AS	Sprinter	34	−1
234	DEEPOCEAN AMERICAS AS	Builder	34	–
235	REMOTION AS	Builder	33	−24
236	ENHANCED DRILLING INTERNATIONAL AS	Sprinter	33	–
237	HYPERNOR AS	Builder	33	+7
238	EQUINOR ANGOLA BLOCK 29 AS	Builder	33	+8
239	RAVEN INVEST AS	Builder	32	−5
240	HEYGAZ NORWAY AS	Steward	32	−26
241	NORDIC SUBSEA AS	Builder	31	−22
242	NAMTVEDT -SEALMAKER SERVICES AS	Builder	31	+16
243	ENIFLUX AS	Builder	31	−20
244	ROV & DYKKER SERVICE AS	Builder	31	−7
245	GLOBAL GEO SERVICES AS	Builder	31	+3
246	SAREPTA OIL AS	Builder	30	+2
247	OLYMPIC OPERATION II AS	Builder	30	+28
248	GEO CASPIAN OPERATION AS	Builder	30	+16
249	HAVILA PHOENIX AS	Builder	29	−22
250	TWMA NORGE AS	Builder	29	+6
251	DEEP SEA DRILLING COMPANY I AS	Builder	29	−23
252	SEABED VISION AS	Builder	29	+3
253	NDT GLOBAL AS	Builder	29	−10
254	SOLSTAD BRASIL AS	Builder	29	−4
255	WELL INTERCEPT AS	Builder	29	−21
256	CAPPELEN OFFSHORE SERVICES AS	Builder	29	+11
257	CONNECTOR DEEPWATER SOLUTIONS AS	Builder	28	+22
258	YMIR ENERGY AS	Builder	28	−1
259	ARENDAL SPIRIT AS	Builder	28	+1
260	RM CONSULTANTS AS	Builder	27	−3
261	EQUINOR ANGOLA BLOCK 40 AS	Builder	26	−26
262	PETRO WELL SERVICES AS	Builder	25	+3
263	PETROLINK SUPPORT AS	Builder	25	−21
264	IKM FLUID TREATMENT SOLUTIONS AS	Builder	25	−28
265	OLYMPIC DELTA AS	Builder	25	−30
266	BRIARWOOD INVEST I AS	Builder	24	–
267	SELNES GEOSCIENCE CONSULTING AS	Builder	24	−26
268	EQUINOR ANGOLA BLOCK 31/21 AS	Builder	24	−26
269	NORTERMINAL RESPONSE AS	Builder	23	+5
270	MEKJARVIK EIENDOM AS	Builder	23	+1
271	ÅLESUND SUBSEA AS	Builder	22	+1
272	PETRICA INVEST AS	Builder	21	−5
273	EQUINOR ARGENTINA AS	Builder	21	−10
274	PRIMARY SOLUTIONS AS	Builder	20	−54
275	PROPLAN PROJECT PLANNING AS	Builder	20	−52
276	BIRAL LUBRICANTS NORWAY AS	Builder	20	−23
277	MARDAHL INDUSTRI AS	Builder	20	−11
278	IOSOLUTIONS AS	Builder	19	−15
279	HAVILA VOLANTIS AS	Builder	19	+2
280	S-N TERMINAL AS	Builder	19	+1
281	GENESIS ENERGIES NORWAY AS	Builder	18	−1
282	HØYDESIKRING ACCESS AS	Builder	16	–
283	OMEGA WELL INTERVENTION AS	Builder	16	+2
284	DK OFFSHORE AS	Builder	15	–
285	JETT TECHNOLOGIES AS	Builder	15	−2
286	CLAXTON ENGINEERING SERVICES AS	Builder	14	−7
287	SAFETY LEADERS AS	Builder	14	+9
288	KMNOR AS	Builder	11	+10
289	HEMLA VANTAGE AS	Builder	10	+1
290	KANFER SHIPPING MANAGEMENT AS	Builder	10	−4
291	ONLINE ENGINEERING AS	Builder	10	−13
292	SIGMA MARINE SERVICES AS	Builder	8	–
293	MARITIM NORGE AS	Builder	7	−5
294	AUTONOMOUS INTERVENTION AS	Builder	7	–
295	VGV WELL SOLUTIONS AS	Builder	7	+1
296	PIRANEMA PRODUCTION AS	Builder	6	−34
297	NORWEGIAN GREEN ENERGY AS	Builder	6	−43
298	KJELL STUVIK HOLDING AS	Builder	6	−24
299	LB DIVING AS	Builder	5	+2
300	IOR AQUA AS	Builder	4	0
301	GEO CASPIAN AS	Builder	3	−36
302	ECLIPSE DRILLING AS	Builder	3	−8
303	NORMINOL AS	Builder	3	0
304	SAND & DEBRI CLEANUP AS	Builder	3	−12
305	BIOFUEL HOLDING AS	Builder	2	−19
306	MINERALL AS	Builder	2	0
307	ROSANES GASS AS	Builder	2	−1
308	ZENITH ENERGY AS	Builder	2	−3
309	YMIR ENERGY HOLDING AS	Builder	1	0
310	CONNECTOR SUBSEA TECHNOLOGY AS	Builder	1	0

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A ranking is shown only when the tier has enough comparable companies for meaningful percentiles. Full ranking

Biggest moves

EQUINOR REFINING NORWAY AS
From 2024 to 2025: the operating margin rose from −49.8% to 76.2% and the equity ratio rose from 15.9% to 62.2%.
+68
PRIMARY SOLUTIONS AS
From 2024 to 2025: the equity ratio fell from 59.4% to −191.5% and the operating margin fell from 38.7% to −19.7%.
−54
LU CAP AS
From 2024 to 2025: the operating margin rose from −32.2% to 84.6% and the equity ratio rose from −32.2% to 64.5%.
+54
EQUINOR ENERGY LIBYA AS
From 2024 to 2025: the equity ratio rose from 12.2% to 50.8%.
+54

Positions in the sector · 2025

Bubble size shows relative revenue, not exact figures.

Show the positions as a list

Company	Profile	Profitability	Solidity
PARTNERS GROUP SWAN TRANSPORTATION AS	Cheetah	100	36
PARTNERS GROUP SWAN HOLDING AS	Cheetah	100	18
LANGE RIGGPART AS	Cheetah	100	0
ORG ENGINEERING AS	Cheetah	100	0
GULLHEIM HOLDING AS	Lion	99	80
PETROLIA RIGS AS	Cheetah	99	46
EQUINOR MURZUQ AS	Lion	99	80
CEMAS AS	Cheetah	98	26
EQUINOR ENERGY LIBYA AS	Lion	98	56
HAVILA HARMONY AS	Cheetah	98	0
DNO YEMEN AS	Lion	98	62
DF PROPERTIES AS	Cheetah	98	12
PANDION ENERGY HOLDING AS	Lion	97	94
A/S Norske Shell	Cheetah	97	11
OLYMPIC SERVICES AS	Lion	97	52
EQUINOR IN SALAH AS	Lion	96	79
H&P NORGE AS	Lion	96	87
HOVE FINANS AS	Lion	96	84
CSE OFFSHORE AS	Lion	96	98
SUNDOWN INVEST AS	Cheetah	95	31
CAPTROL AS	Cheetah	95	48
EQUINOR BTC FINANCE AS	Cheetah	95	16
LU CAP AS	Lion	95	51
SUBSEA 7 HOLDING NORWAY AS	Lion	95	100
OLYMPIC ARTEMIS AS	Lion	95	75
MOORE ENERGY AS	Cheetah	94	42
DOF SUBSEA AS	Lion	94	89
OLYMPIC ELECTRA AS	Cheetah	93	0
OLYMPIC CHALLENGER AS	Lion	93	63
PANORO TUNISIA PRODUCTION AS	Lion	93	86
SJØLIE OFFSHORE AS	Lion	92	81
REM SALTIRE AS	Lion	92	54
AT-JOA INVEST AS	Lion	92	56
REM SALTIRE HOLDING AS	Lion	91	84
NORTH SEA GIANT II AS	Lion	91	60
LYNX OFFSHORE AS	Lion	91	54
TOTALENERGIES EP NORGE AS	Cheetah	91	20
PROPROC AS	Cheetah	91	22
OLYMPIC TAURUS AS	Cheetah	90	43
TECNOR AS	Lion	90	58
OLYMPIC ARES AS	Lion	89	91
TASTA DRILLING AS	Cheetah	89	48
TCO NORWAY AS	Cheetah	89	37
ODIN DIVING NORGE AS	Lion	89	68
OMV NORGE AS	Cheetah	89	17
IK GROUP AS	Cheetah	89	21
EQUINOR ENERGY AS	Cheetah	89	43
EXPLONOR AS	Lion	89	55
PETROLEUM GEO-TECHNOLOGY AS	Lion	88	70
FRANCON AS	Lion	88	53
E PLUG AS	Lion	87	69
GRAND CANYON 3 AS	Lion	87	79
EQUINOR ANGOLA BLOCK 31 AS	Lion	87	71
DOF SUBSEA REDERI III AS	Cheetah	87	23
PROSIK AS	Cheetah	87	39
EQUINOR REFINING NORWAY AS	Lion	86	84
RAMCO NORWAY AS	Cheetah	86	26
PANDION ENERGY AS	Cheetah	86	46
MANGERUD AS	Cheetah	86	25
WELL SUPPORT AS	Cheetah	86	0
RIGHT VIKING AS	Cheetah	86	0
SEA1 OFFSHORE REDERI AS	Lion	86	64
OTECH MARINE SERVICES NORWAY AS	Cheetah	86	17
ROCKWOOD CONSULTING AS	Cheetah	86	17
HARBOUR ENERGY NORGE AS	Cheetah	85	29
DOF GROUP ASA	Lion	85	72
TE AKTIVA AS	Lion	84	64
HAVILA SUBCON AS	Cheetah	84	0
KOKSTAD CHARTERING AS	Cheetah	84	17
EQUINOR DEZASSETE AS	Cheetah	84	35
WELL ID AS	Lion	84	52
NORTH SEA INFRASTRUCTURE AS	Cheetah	84	19
CONOCOPHILLIPS SKANDINAVIA AS	Cheetah	83	13
CINCLUS IV AS	Lion	83	90
E INNOVATION NORGE AS	Cheetah	83	15
EPTEC - ENERGY & PROCESS TECHNIC AS	Lion	83	74
HAVEN RIGCO AS	Lion	83	80
KRAGSET ALT MULIG AS	Cheetah	83	32
OLD KVÆRNER INVEST AS	Cheetah	83	35
ENHANCED DRILLING AS	Lion	83	57
DELMAR SYSTEMS AS	Lion	83	68
OLYMPIC TRITON II AS	Cheetah	82	34
WEST SUPPLY VII EIER AS	Lion	82	51
EQUINOR ANGOLA BLOCK 17 AS	Cheetah	82	36
OLYMPIC OFFSHORE WIND AS	Cheetah	82	34
HOGNEST AS	Lion	81	87
ODFJELL DRILLING AS	Cheetah	81	50
EQUINOR IN AMENAS AS	Lion	81	87
DF RENTAL AS	Cheetah	81	37
KOMPLEMENTAR CCB AS	Lion	81	80
HAUKAAS CONSULTING AS	Lion	81	59
PETROLIA INVEST AS	Lion	80	68
IKM HOLDING AS	Lion	80	81
LANGGÅRD AS	Lion	80	77
IZOMAX AS	Lion	80	50
FC WELL INVEST AS	Lion	80	92
PSW SOLUTIONS AS	Cheetah	80	27
TECHNIP COFLEXIP NORGE AS	Cheetah	80	40
OMEGA SUBSEA AS	Lion	80	67
HVAC OFFSHORE AS	Lion	80	74
CEMIKO AS	Lion	80	62
R.NEVLAND AS	Lion	79	61
CAPEOMEGA GAS TRANSPORTATION AS	Lion	79	96
DOF SUBSEA ATLANTIC AS	Lion	79	52
EQUINOR RUSSIA ENERGY AS	Lion	79	55
NORTH SEA RIGS AS	Cheetah	79	42
JEPSEN OFFSHORE AS	Lion	79	77
SUB SEA SERVICES AS	Cheetah	79	35
INEOS E&P (NORGE) PETROLEUM DK AS	Lion	79	56
REM SUBSEA AS	Cheetah	78	48
TECHDOF BRASIL AS	Cheetah	78	43
OCEAN INSTALLER AS	Lion	78	56
VÅR ENERGI ASA	Cheetah	78	10
RAMCO HOLDINGS NORWAY AS	Lion	78	70
GRAND CANYON OPERATION 3 AS	Cheetah	78	30
HAVILA SUBSEA AS	Lion	78	53
NORMAND SUPERIOR AS	Cheetah	77	24
CIMC OFFSHORE AS	Cheetah	77	0
LTG INVEST AS	Lion	77	97
OFFSHORE RESOURCE GROUP AS	Cheetah	76	0
SUBSEA 7 NORWAY AS	Cheetah	76	47
GM DEEPWATER CONSULTANCY AS	Lion	76	59
NORPIPE OIL AS	Cheetah	75	25
BENGT ARE WÅGHEIM HOLDING AS	Cheetah	75	30
DEEPOCEAN AS	Cheetah	75	30
SKILBREI PETEK AS	Cheetah	75	49
OLYMPIC OPERATION AS	Lion	75	73
ORLEN UPSTREAM NORWAY AS	Lion	75	52
PERENCO VIETNAM AS	Cheetah	75	45
EIDESVIK REACH AS	Lion	75	72
MODI VIVENDI AS	Cheetah	74	0
ON & OFFSHORE HOLDING AS	Cheetah	74	48
METEVA AS	Lion	74	95
ASSET INTEGRITY AS	Cheetah	74	46
SOLSTAD CONSTRUCTION AS	Lion	74	58
J PERCY AS	Lion	74	53
OMS INVESTERING AS	Lion	73	72
RIG PARTNER PROJECT AS	Lion	73	57
AKER INSTALLATION FP AS	Lion	73	63
KIMEK OFFSHORE AS	Cheetah	73	23
EQUINOR ANGOLA BLOCK 15 AS	Lion	73	77
TJERBO INVEST AS	Lion	73	68
NORD AS	Lion	72	75
FLUID CONTROL SERVICE AS	Lion	72	64
INTERWELL HOLDING 2 AS	Lion	72	92
BW OFFSHORE NORWAY AS	Cheetah	72	34
AKER BP ASA	Cheetah	72	31
JACKTEL AS	Lion	72	50
KAMA CONSULTING AS	Lion	72	85
INPEX IDEMITSU NORGE AS	Lion	72	72
CRYSTAL PRODUCTION AS	Lion	72	83
RPG NORGE AS	Lion	71	59
CONSTRUCTION SERVICES AS	Lion	71	56
CK DRIFT AS	Cheetah	71	21
NITROGAS AS	Lion	71	65
DOF SUBSEA REDERI AS	Cheetah	71	45
SIEM OFFSHORE OPCO AS	Cheetah	71	7
HAVILA MARITIME DIS I AS	Cheetah	71	0
KJEL OG BRENNERSERVICE AS	Lion	71	65
ATNO CONSULTING AS	Lion	71	91
ICR INTEGRITY NORGE AS	Lion	70	70
KINNA AS	Lion	70	69
RDS HOLDING AS	Lion	70	78
NORTH SEA GIANT AS	Lion	70	81
INDEPENDENT OIL TOOLS AS	Lion	70	72
GRAND CANYON 2 AS	Lion	69	78
RIG LINUS CONTRACTOR AS	Cheetah	69	22
IQI CERTIFICATION AS	Lion	69	50
SEA1 OFFSHORE MARITIME PERSONNEL AS	Lion	68	50
TORE.HALVORSEN AS	Lion	68	88
IK SUBSEA AS	Cheetah	68	41
SAIPEM DRILLING NORWAY AS	Cheetah	68	31
HAGGI INVEST AS	Lion	68	89
ARCHER OILTOOLS AS	Cheetah	67	10
NOS RENTAL AS	Cheetah	67	29
OLYMPIC CREW MANAGEMENT AS	Cheetah	67	6
FORCE TECHNOLOGY NORWAY AS	Lion	67	77
NYE FJELLBERG EIENDOM AS	Lion	67	53
INDUSTRIDYKK AS	Cheetah	67	24
IKM AQUAMARINE AS	Lion	67	55
MACRO OFFSHORE OPERATIONS AS	Cheetah	66	11
REACH SUBSEA SHIPPING AS	Lion	66	62
SAIPEM NORGE AS	Cheetah	66	38
SOUTH EAST MARINE AS	Lion	66	61
JARALA AS	Lion	66	92
STOLT-NIELSEN HOLDING AS	Lion	66	98
SCANWELL AS	Cheetah	66	33
FISHFINDER AS	Lion	65	88
DIATEK AS	Lion	65	66
WEST SUPPLY III AS	Lion	65	79
SUBCAP AS	Lion	64	97
VERTECH OFFSHORE AS	Cheetah	64	34
NYNAS AS	Lion	64	71
OLYMPIC HOLDING CHARTERING AS	Lion	64	65
TRADE TECH AS	Cheetah	63	23
ONSITE TREATMENT SERVICES AS	Lion	63	71
NORTH SEA ENABLER AS	Lion	63	91
KOLBEINSVARDEN AS	Lion	63	60
SIV.ING. TORGEIR AUNE AS	Lion	62	93
FLOWPARTNER AS	Lion	62	62
BABYSHOP SENGEMAGASINET AS	Cheetah	62	0
APL NORWAY AS	Lion	62	56
IKM TESTING AS	Lion	62	63
PETROLIA NOCO AS	Cheetah	62	4
NORTH ATLANTIC AS	Lion	62	85
GIGGS OIL AND GAS SERVICES AS	Cheetah	61	27
WELLTEC OILFIELD SERVICES (NORWAY) AS	Cheetah	61	11
ENHANCED DRILLING INTERNATIONAL AS	Cheetah	60	0
DOF SUBSEA CHARTERING AS	Cheetah	60	20
STATOIL SP GAS AS	Cheetah	60	38
DEEP CYGNUS OPERATION AS	Cheetah	60	45
LEFDAL WELL CONSULTANTS AS	Lion	60	92
SOLSTAD SUPERIOR AS	Cheetah	60	12
YOUNG EXPLORATION AS	Cheetah	60	19
DIESEL CARE AS	Cheetah	60	14
INTERWELL NORWAY AS	Lion	60	76
MINERALS GROUP AS	Lion	60	93
OLYMPIC CREWING AS	Cheetah	59	15
TOOLSERV AS	Lion	59	56
FAMOS ENGINEERING AS	Lion	59	86
SEA1 OFFSHORE CREW AS	Lion	59	64
HAVILA SUBSEA CREWING AS	Cheetah	59	26
WELLPARTNER HOLDING AS	Lion	59	95
TIOS CREWING AS	Cheetah	59	34
M VEST ENERGY AS	Cheetah	59	0
DOF SUBSEA NORWAY AS	Lion	59	58
WEST SUPPLY VII DRIFT AS	Cheetah	59	27
PETROMARIN HOLDING AS	Lion	59	76
DEEP C SOLUTIONS AS	Cheetah	59	25
STRINDFJORDEN AS	Lion	58	91
ALTERA INFRASTRUCTURE PRODUCTION AS	Cheetah	58	26
HAVILA SERVICE AS	Cheetah	58	0
OLJEVEDLIKEHOLD AS	Lion	58	79
AEONIAN 36 AS	Cheetah	58	22
TRANSOCEAN BARENTS ASA	Cheetah	58	23
BUKTA HOLDING AS	Lion	58	61
NORTHERN OCEAN WAVE AS	Cheetah	57	12
TASIK TOBA SUBSEA AS	Cheetah	57	0
M VEST INVEST AS	Cheetah	57	13
SUBSEA INSULATION AS	Cheetah	57	0
OCEANEERING AS	Lion	56	93
AXTECH AS	Cheetah	56	37
H&P DRILLING OFFSHORE SERVICES AS	Cheetah	56	0
JWS GRUPPEN AS	Lion	56	60
HV VII INVEST DAGS AS	Lion	56	95
REUTZ CONSULTING AS	Lion	55	97
EQUINOR ASA	Cheetah	55	43
KAEFER ENERGY AS	Cheetah	55	40
ONESUBSEA AS	Cheetah	55	31
IKM SUBSEA AS	Cheetah	54	19
KVENNA AS	Cheetah	54	39
LOGE RESOURCES AS	Cheetah	54	25
DET NORSKE OLJESELSKAP AS	Lion	53	75
GC RIEBER SHIPPING AS	Lion	53	68
COSL NORWEGIAN AS	Cheetah	53	0
DEEPOCEAN GROUP HOLDING AS	Cheetah	53	46
DNO NORGE AS	Cheetah	53	23
INTERWELL HOLDING 1 AS	Lion	53	85
DOLPHIN DRILLING OPERATIONS AS	Lion	53	76
DF GROUP AS	Cheetah	52	45
STATOIL IRAN AS	Lion	52	63
ON & OFFSHORE SERVICES AS	Cheetah	52	21
SONGA OFFSHORE RIG 3 AS	Cheetah	52	0
DOLPHIN DRILLING AS	Lion	51	87
ALFA NORDIC SERVICES AS	Cheetah	51	39
HILDR AS	Lion	51	74
KIMEK OFFSHORE RESOURCES AS	Lion	51	86
MORELD GROUP AS	Cheetah	51	49
CAPPELEN OFFSHORE SERVICES AS	Beaver	50	0
H&P DRILLING NORGE AS	Beaver	49	28
NINE DOWNHOLE NORWAY AS	Beaver	49	21
ARISONAS AS	Beaver	49	36
ARCHER AS	Beaver	49	48
TENDEKA AS	Beaver	49	28
SONGA OFFSHORE RIG 2 AS	Beaver	49	11
VOLANTIS OPERATION AS	Beaver	49	0
ISLAND DRILLING MANAGEMENT AS	Beaver	49	41
AKER SOLUTIONS ASA	Beaver	49	31
MOHR AS	Elephant	49	63
SCMS HOLDING AS	Beaver	49	14
DOF OFFSHORE HOLDING AS	Elephant	49	62
ALTERA KNARR AS	Beaver	48	42
ARCHER VERTIKAL AS	Beaver	48	22
AKOFS OFFSHORE OPERATIONS AS	Beaver	48	0
ENIFLUX AS	Beaver	47	0
MYRHAUG MARINE AS	Elephant	47	50
NORTH SEA OFFSHORE AS	Beaver	47	15
AKOFS OFFSHORE AS	Elephant	47	71
BEERENBERG SERVICES AS	Beaver	47	42
SIAI HOLDING AS	Elephant	47	88
NAMTVEDT -SEALMAKER SERVICES AS	Beaver	46	0
SEA1 OFFSHORE AS	Elephant	46	61
REX GEO SOLUTION AS	Beaver	46	22
JANSEN INVEST AS	Elephant	46	85
GHANA FPSO OPERATIONS AS	Beaver	46	12
HALLIBURTON AS	Elephant	45	64
TCO GROUP AS	Beaver	45	30
EIDESVIK NEPTUN II AS	Elephant	45	97
INTELLISERV NORWAY AS	Beaver	45	47
PHRONTESEAS AS	Beaver	45	37
AKASTOR AS	Elephant	45	58
NORTH SEA SHIPPING HOLDING AS	Beaver	45	39
KONGSLIEN PETROPHYSICS AS	Elephant	45	95
OCEAN INSTALLER II AS	Elephant	45	67
SUPERIOR ENERGY SERVICES (NORWAY) AS	Beaver	45	43
SCORE AS	Beaver	44	20
ØCH INVEST AS	Elephant	44	94
GRAND CANYON OPERATION 2 AS	Beaver	44	17
WEST ASSET MANAGEMENT AS	Beaver	44	28
CONNECTOR SUBSEA SOLUTIONS AS	Beaver	44	30
ODFJELL TECHNOLOGY AS	Beaver	43	40
M VEST INVEST 2 AS	Elephant	43	81
SIEN AS	Elephant	43	78
YMIR ENERGY AS	Beaver	43	0
IO ULSTEINVIK AS	Beaver	43	12
DEEP C HOLDING AS	Beaver	43	19
CABRAL AS	Beaver	43	20
APPLY AS	Beaver	43	39
AKER SOLUTIONS AS	Beaver	42	27
DNO IRAQ AS	Elephant	42	66
RGA ENERGY HOLDINGS AS	Elephant	42	97
MACRO OFFSHORE AS	Elephant	42	60
SUPPLY CHAIN MANAGEMENT SERVICES AS	Beaver	42	47
AKER SECURITY AS	Beaver	42	32
NØSTE HOLDING AS	Elephant	41	97
IKM AS	Elephant	41	98
GOGC ENERGY NORWAY AS	Elephant	41	98
ENHANCED DRILLING INTERNATIONAL II AS	Elephant	41	52
JERAN HOLDING AS	Beaver	41	46
SAREPTA OIL AS	Beaver	41	21
MORE HOLDCO APPLY AS	Elephant	41	76
ODFJELL INVEST II AS	Beaver	41	26
JON LINDMAN AS	Elephant	41	90
BOKA TOPAZ OPERATION AS	Elephant	41	60
INTERWELL AS	Beaver	41	23
BRIARWOOD INVEST I AS	Beaver	39	11
ATLANTIC OFFSHORE ALPHA AS	Beaver	39	46
BOSKALIS OFFSHORE AS	Beaver	39	43
AMA OCEAN AS	Elephant	39	72
ODFJELL INVEST AS	Elephant	39	60
ALLSEAS NORWAY AS	Elephant	39	59
DNO ASA	Beaver	39	47
EQUINOR ANGOLA BLOCK 25 AS	Beaver	39	50
KNUTSEN NEW ENERGY AS	Elephant	39	83
PETROJARL I PRODUCTION AS	Elephant	38	90
KVERNVOLD INVEST AS	Elephant	38	97
HAVILA SUBSEA & RENEWABLES AS	Beaver	38	35
HAVILA VOLANTIS AS	Beaver	38	0
DEEP SEA DRILLING COMPANY AS	Beaver	38	23
BILFINGER ISP OFFSHORE NORWAY AS	Elephant	38	91
FEISTEIN AS	Elephant	38	69
KANFA AS	Beaver	38	31
EXXONMOBIL EXPLORATION AND PRODUCTION NORWAY AS	Elephant	37	84
NOV PROCESS & FLOW TECHNOLOGIES AS	Beaver	37	9
STATOIL ZAGROS OIL AND GAS AS	Beaver	37	0
S-N TERMINAL AS	Beaver	37	0
RM CONSULTANTS AS	Beaver	36	18
SAGA OFFSHORE PARTNERS AS	Beaver	36	40
SCANA ASA	Elephant	36	54
MEKJARVIK EIENDOM AS	Beaver	36	11
MCPHERSON AS	Beaver	36	42
EQUINOR CHINA AS	Elephant	36	79
SUB AQUA TECHNOLOGY SAT AS	Elephant	35	81
VHV CONSULTING AS	Elephant	35	66
ALTERA INFRASTRUCTURE CREWING AS	Elephant	35	97
DNO TECHNICAL SERVICES AS	Beaver	35	44
NORTERMINAL FLOATING STORAGE AS	Elephant	35	100
CONNECTOR DEEPWATER SOLUTIONS AS	Beaver	35	13
RIG HERCULES CONTRACTOR AS	Beaver	34	10
LINJEBYGG NORWAY AS	Beaver	34	9
REPSOL PERPETUAL NORGE AS	Elephant	34	83
SCAN TECH AS	Elephant	34	82
WOOD GROUP NORWAY AS	Beaver	34	44
ARNE STANG INVEST AS	Elephant	34	62
PRA GROUP EUROPE PORTFOLIO AS	Elephant	34	90
SF-GASS AS	Beaver	34	0
THREE60 ENERGY NORWAY AS	Beaver	34	44
HAVILA PHOENIX AS	Beaver	34	0
BUOY JV BIDCO AS	Elephant	33	96
JOHANNES ØSTENSJØ DY AS	Elephant	33	75
PETROLIA AS	Elephant	32	99
SANDEX AS	Elephant	32	94
ADOON AS	Beaver	32	48
DEEP SEA DRILLING COMPANY I AS	Beaver	32	20
IBEX AS	Elephant	32	67
H&P MODU OPERATIONS AS	Beaver	32	2
ALLAN AS	Elephant	32	97
HAVILA SUBSEA MANAGEMENT AS	Elephant	32	57
DNO NORTH SEA HOLDING AS	Elephant	32	97
HYPERNOR AS	Beaver	31	0
IKM GRUPPEN AS	Elephant	31	59
SFAX PETROLEUM CORPORATION AS	Elephant	31	56
GEO CASPIAN OPERATION AS	Beaver	31	0
WELLPARTNER AS	Elephant	31	58
MOHN DRILLING AS	Beaver	30	30
TWMA NORGE AS	Beaver	30	0
ENHANCED WELL TECHNOLOGIES AS	Elephant	30	70
DEEP SEA RIG AS	Beaver	30	15
OKEA ASA	Beaver	30	12
JETT TECHNOLOGIES AS	Beaver	30	0
ATTICA EXPLORATION AS	Beaver	30	45
PETRICA INVEST AS	Beaver	29	0
SEA1 OFFSHORE OSCV AS	Elephant	29	62
INEOS E&P NORGE AS	Beaver	29	34
SEA1 MARINE CREW AS	Beaver	29	7
REMOTION AS	Beaver	29	41
WEATHERFORD NORGE AS	Elephant	29	55
DEEPOCEAN CORPORATE AS	Beaver	29	3
RAVEN INVEST AS	Beaver	28	28
DEEP SEA MANAGEMENT INTERNATIONAL AS	Beaver	28	23
AKASTOR ASA	Elephant	28	78
NORWEGIAN WELL CONTROL AS	Elephant	28	73
JANSEN OG WILLUMSEN SERVICES AS	Beaver	28	40
SPIRIT ENERGY NORWAY AS	Beaver	28	6
H&P OFFSHORE AS	Beaver	28	48
HØYDESIKRING ACCESS AS	Beaver	27	0
WAVZ ENGINEERING SERVICES AS	Beaver	27	37
SEA1 OFFSHORE INVEST AS	Elephant	27	89
DET NORDNORSKE OLJESELSKAP AS	Beaver	27	45
SCHLUMBERGER NORGE AS	Beaver	27	19
VISION OF ENERGY AS	Elephant	27	86
NORTERMINAL RESPONSE AS	Beaver	26	0
SUBSEAPARTNER AS	Beaver	26	28
S-ENERGY AS	Elephant	26	100
LINJEBYGG AS	Beaver	26	43
MARDAHL INDUSTRI AS	Beaver	26	0
AKER SOLUTIONS HOLDING AS	Elephant	26	83
REM SALTIRE INTERNATIONAL AS	Beaver	26	5
OLYMPIC SHIP INTERNATIONAL AS	Elephant	26	64
OPTIMISER AS	Elephant	26	82
GENESIS ENERGIES NORWAY AS	Beaver	26	0
SCANA HOLDING AS	Elephant	25	83
DEEP SEA MANAGEMENT AS	Beaver	25	7
OLYMPIC SUBSEA ASA	Beaver	25	24
NDT GLOBAL AS	Beaver	25	32
INGINEERING AS	Elephant	25	55
SOLSTAD BRASIL AS	Beaver	25	38
RIDGE HOLDING AS	Elephant	24	80
OLYMPIC OPERATION II AS	Beaver	24	18
IOSOLUTIONS AS	Beaver	24	0
NORTH SEA SHIPPING AS	Elephant	24	51
OCEAN INSTALLER HOLDING AS	Elephant	24	75
BELGRAVIA AS	Elephant	24	94
BISN NORWAY AS	Beaver	23	0
IKM SUBSEA HOLDING AS	Elephant	23	65
SAFETY LEADERS AS	Beaver	23	0
AKER SOLUTIONS FINANCIAL HOLDING AS	Elephant	23	87
NORSKAN AS	Elephant	22	97
PSW TECHNOLOGY AS	Beaver	22	24
ISLAND OFFSHORE CREWING AS	Beaver	22	15
NORDIC SUBSEA AS	Beaver	22	18
PETORO AS	Beaver	21	18
NORAM DRILLING AS	Elephant	21	79
OLYMPIC OFFSHORE AS	Elephant	21	74
DK OFFSHORE AS	Beaver	21	0
ARCHER NORGE AS	Beaver	21	46
ENHANCED DRILLING HOLDING AS	Elephant	21	83
H. CONSULT AND INVEST AS	Elephant	21	93
ATDL AS	Elephant	21	86
AKOFS 2 AS	Beaver	21	41
BEERENBERG HOLDING AS	Elephant	21	98
EQUINOR ANGOLA AS	Elephant	20	71
MARDAHL INVEST AS	Elephant	20	72
MARIGOLD HOLDCO AS	Beaver	20	0
NORMAND DRIFT AS	Elephant	20	62
ENHANCED WELL TECHNOLOGIES GROUP AS	Elephant	20	86
CMO AS	Elephant	20	97
ÅLESUND SUBSEA AS	Beaver	20	0
EQUINOR ARGENTINA AS	Beaver	20	40
IKM FLUID TREATMENT SOLUTIONS AS	Beaver	20	24
BEERENBERG AS	Elephant	20	89
WELL INTERCEPT AS	Beaver	20	29
TDW OFFSHORE SERVICES AS	Beaver	20	49
OLYMPIC DELTA AS	Beaver	20	36
ARCADE DRILLING AS	Beaver	19	14
PROPLAN PROJECT PLANNING AS	Beaver	19	16
TRANSOCEAN NORWAY OPERATIONS AS	Beaver	19	0
AVIUM SUBSEA AS	Beaver	19	0
ODFJELL OPERATIONS AS	Beaver	19	32
ISLAND DRILLING CREWING AS	Beaver	19	3
GLOMAR MINERALS AS	Elephant	19	98
EXPRO NORWAY AS	Beaver	18	0
GLOBAL GEO SERVICES AS	Beaver	18	15
OLYMPIC SUBSEA SHIPHOLDING AS	Elephant	18	68
PETRODATA AS	Elephant	18	67
CLAXTON ENGINEERING SERVICES AS	Beaver	18	0
GINA KROG AS	Elephant	18	84
AKOFS NORWAY OPERATIONS AS	Beaver	18	49
ODFJELL TERMINALS GLOBAL HOLDING AS	Elephant	18	99
HEYGAZ NORWAY AS	Elephant	18	56
PANORO TUNISIA EXPLORATION AS	Beaver	17	0
RUTINE INVEST AS	Elephant	17	97
ROV & DYKKER SERVICE AS	Beaver	17	45
SELNES GEOSCIENCE CONSULTING AS	Beaver	17	0
SPIRIT NORWAY HOLDING AS	Elephant	17	88
PETROLINK SUPPORT AS	Beaver	17	20
BIRAL LUBRICANTS NORWAY AS	Beaver	17	14
IKM INDUSTRI-INVEST AS	Elephant	17	53
HUNTING ENERGY SERVICES (NORWAY) AS	Elephant	17	77
EQUINOR VENTURES AS	Elephant	16	89
ODFJELL WELL SERVICES AS	Beaver	16	8
EQUINOR LNG SHIP HOLDING AS	Elephant	16	100
STATHOLDING AS	Elephant	16	51
PETRO WELL SERVICES AS	Beaver	16	16
TARGS AS	Elephant	15	71
EQUINOR PROJECTS HOLDING AS	Elephant	15	100
SEABED VISION AS	Beaver	15	36
DEEPOCEAN MARITIME AS	Elephant	15	64
ODFJELL WELL SERVICES NORWAY AS	Beaver	15	13
ALLOCEAN AS	Elephant	15	82
HAVILA SUBSEA & RENEWABLES HOLDING AS	Elephant	15	95
EQUINOR MIDSTREAM & TRADING AS	Elephant	14	66
PRIMARY SOLUTIONS AS	Beaver	14	0
ARENDAL SPIRIT AS	Beaver	14	31
HAVILA CHARTERING AS	Beaver	14	0
PETRICA AS	Elephant	14	97
SOLSTAD OPERATIONS HOLDING AS	Elephant	14	89
DEEPOCEAN AMERICAS AS	Beaver	14	47
WELLESLEY PETROLEUM AS	Beaver	14	44
EQUINOR NORSK LNG AS	Beaver	13	14
ISLAND OFFSHORE MANAGEMENT AS	Beaver	13	11
EQUINOR ANGOLA BLOCK 40 AS	Beaver	12	28
EQUINOR LIBYA AS	Beaver	12	43
ABILITY HOLDING AS	Beaver	12	44
EQUINOR E&P AMERICAS AS	Elephant	12	99
EQUINOR INTERNATIONAL WELL RESPONSE COMPANY AS	Elephant	12	94
EQUINOR ANGOLA BLOCK 29 AS	Beaver	11	49
VESTERVIND CONTRACTORS AS	Beaver	11	33
EQUINOR ALGERIA AS	Elephant	11	70
EQUINOR ENERGY INTERNATIONAL AS	Elephant	11	96
ONLINE ENGINEERING AS	Beaver	10	0
BRIGHTSKIES GEOSCIENCE AS	Elephant	9	98
ODFJELL TERMINALS US HOLDING AS	Elephant	9	93
MARITIM NORGE AS	Beaver	9	0
EQUINOR ANGOLA BLOCK 31/21 AS	Beaver	9	33
VGV WELL SOLUTIONS AS	Beaver	9	0
SOLSTAD MEXICO AS	Beaver	9	16
HEMLA VANTAGE AS	Beaver	8	0
EQUINOR BTC CASPIAN AS	Beaver	8	14
ISLAND DRILLING COMPANY AS	Beaver	8	0
JAPEX NORGE AS	Elephant	8	75
OMEGA WELL INTERVENTION AS	Beaver	8	0
DNO VENTURE AS	Elephant	8	98
M VEST AS	Beaver	8	0
APC AS	Elephant	7	73
SIGMA MARINE SERVICES AS	Beaver	7	0
FOURPHASE AS	Elephant	7	66
KMNOR AS	Beaver	7	0
COSL OFFSHORE MANAGEMENT AS	Elephant	7	73
LB DIVING AS	Beaver	7	0
EQUINOR NIGERIA AS	Elephant	7	54
KANFER SHIPPING MANAGEMENT AS	Beaver	6	0
IOR AQUA AS	Beaver	6	0
EQUINOR ANGOLA BLOCK 1/14 AS	Elephant	6	68
AFP AS	Beaver	6	30
NORTHERN OCEAN WIND AS	Beaver	6	0
DNO BIDCO AS	Elephant	6	53
DNO MIDDLE EAST AND AFRICA AS	Elephant	6	53
KISTOS ENERGY (NORWAY) AS	Beaver	6	5
AUTONOMOUS INTERVENTION AS	Beaver	5	0
CONCEDO AS	Beaver	5	7
EQUINOR ANGOLA BLOCK 46 AS	Elephant	5	87
LIME PETROLEUM AS	Beaver	5	0
KJELL STUVIK HOLDING AS	Beaver	5	0
PIRANEMA PRODUCTION AS	Beaver	4	0
ECLIPSE DRILLING AS	Beaver	4	0
NORWEGIAN GREEN ENERGY AS	Beaver	4	0
SAND & DEBRI CLEANUP AS	Beaver	3	0
AKA SPH AS	Elephant	3	97
SLB KRISTIANSAND AS	Beaver	3	29
NORMINOL AS	Beaver	3	0
GEO CASPIAN AS	Beaver	2	0
BIOFUEL HOLDING AS	Beaver	2	0
MINERALL AS	Beaver	2	0
EQUINOR TANZANIA AS	Elephant	2	92
REPSOL NORGE AS	Beaver	1	22
ZENITH ENERGY AS	Beaver	1	0
DOLPHIN DRILLING OFFSHORE AS	Beaver	1	33
SOURCE ENERGY AS	Beaver	1	27
ROSANES GASS AS	Beaver	1	0
YMIR ENERGY HOLDING AS	Beaver	0	0
EQUINOR APSHERON AS	Beaver	0	38
EQUINOR ANGOLA BLOCK 47 AS	Beaver	0	43
CONNECTOR SUBSEA TECHNOLOGY AS	Beaver	0	0

Sector article · yearly

This year's sector article is coming

Winners, losers and trends in the sector, written by Morning Analytics and reviewed by a person, with sources under every claim.

Coming · not built yet

The sector in numbers

Summary · fiscal year 2025

The sector's median operating margin is 5.4%. 89 of 595 companies have negative equity. The median equity ratio is 41.9%.

Companies with accounts595

Total revenue (excluding 35 in another currency)437,426 MNOK

Median operating margin5.4%

Median equity ratio41.9%

Share with a loss36%

Share with negative equity15%

All figures are for fiscal year 2025. Ranked: 584 operating companies. Holding companies, excluded companies and companies without enough data are shown but not ranked. How to read the index

35 companies report in another currency without an exchange rate for 2025. Their amounts are left out of totals and size lists.

Climbers and fallers

Change in rank from 2024 to 2025, for 562 companies ranked in both years.

Climbers

546EQUINOR REFINING NORWAY ASfrom rank 559 to 1381
493EQUINOR ENERGY LIBYA ASfrom rank 514 to 2179
474LU CAP ASfrom rank 556 to 8268
450PANORO TUNISIA PRODUCTION ASfrom rank 458 to 885
443OLYMPIC SERVICES ASfrom rank 484 to 4174

Fallers

503PRIMARY SOLUTIONS ASfrom rank 34 to 53720
496PROPLAN PROJECT PLANNING ASfrom rank 42 to 53820
424EQUINOR NORSK LNG ASfrom rank 107 to 53121
370MARDAHL INVEST ASfrom rank 9 to 37941
346TDW OFFSHORE SERVICES ASfrom rank 120 to 46633

Awards · 2025

Most profitableIK GROUP AS149.8%

Fastest growthCONCEDO AS7,517.9%

Strongest balance sheetS-ENERGY AS102.2%

Largest revenueTOTALENERGIES EP NORGE AS61,500 MNOK

Highest revenue per employeeTOTALENERGIES EP NORGE AS661.3 MNOK

Needs attention · 2025

344 companies show at least one warning sign. Showing the 15 most important.

criticalLIME PETROLEUM ASNegative equity · Current ratio below 1 (0.83) · Loss before tax
criticalNORTHERN OCEAN WIND ASNegative equity · Current ratio below 1 (0.98) · Loss before tax
criticalHAVILA CHARTERING ASNegative equity · Current ratio below 1 (0.46) · Loss before tax
criticalTASIK TOBA SUBSEA ASNegative equity · Current ratio below 1 (0.93) · Loss before tax
criticalMARDAHL INDUSTRI ASNegative equity · Current ratio below 1 (0.70) · Loss before tax
criticalCLAXTON ENGINEERING SERVICES ASNegative equity · Current ratio below 1 (0.66) · Loss before tax
criticalTWMA NORGE ASNegative equity · Current ratio below 1 (0.78) · Loss before tax
criticalGENESIS ENERGIES NORWAY ASNegative equity · Current ratio below 1 (0.62) · Loss before tax
criticalHØYDESIKRING ACCESS ASNegative equity · Current ratio below 1 (0.66) · Loss before tax
criticalSAFETY LEADERS ASNegative equity · Current ratio below 1 (0.54) · Loss before tax
criticalIOSOLUTIONS ASNegative equity · Current ratio below 1 (0.22) · Loss before tax
criticalNORTERMINAL RESPONSE ASNegative equity · Current ratio below 1 (0.03) · Loss before tax
criticalÅLESUND SUBSEA ASNegative equity · Current ratio below 1 (0.24) · Loss before tax
criticalSELNES GEOSCIENCE CONSULTING ASNegative equity · Current ratio below 1 (0.29) · Loss before tax
criticalPRIMARY SOLUTIONS ASNegative equity · Current ratio below 1 (0.34) · Loss before tax

Sector map · 2025

Profitability against solidity for the ranked companies. Size shows revenue. Coral triangle: negative equity. Click to open the company. Outliers are placed on the edge.

Show the map's figures as a table

Company	Operating margin	Equity ratio	Revenue
CAPEOMEGA GAS TRANSPORTATION AS	98.5%	98.7%	548 MNOK
HAVEN RIGCO AS	122.4%	97.3%	16 MNOK
HOGNEST AS	51.6%	99.5%	0 MNOK
EQUINOR REFINING NORWAY AS	76.2%	62.2%	5,796 MNOK
CSE OFFSHORE AS	87.5%	100.0%	0 MNOK
JARALA AS	43.6%	99.9%	2 MNOK
LANGGÅRD AS	38.2%	96.2%	2 MNOK
EQUINOR ENERGY LIBYA AS	90.9%	50.8%	370 MNOK
EQUINOR MURZUQ AS	87.9%	57.5%	1,288 MNOK
JEPSEN OFFSHORE AS	46.9%	96.3%	3 MNOK
SJØLIE OFFSHORE AS	77.3%	97.4%	3 MNOK
SEA1 OFFSHORE REDERI AS	63.5%	65.3%	–
TORE.HALVORSEN AS	60.3%	99.7%	1 MNOK
DELMAR SYSTEMS AS	20.9%	61.7%	390 MNOK
CINCLUS IV AS	89.2%	99.8%	5 MNOK
ENHANCED DRILLING AS	31.7%	51.2%	993 MNOK
PETROLEUM GEO-TECHNOLOGY AS	88.4%	88.0%	1 MNOK
NORTH SEA ENABLER AS	23.4%	93.2%	162 MNOK
TECNOR AS	52.0%	74.7%	4 MNOK
OLYMPIC SERVICES AS	98.3%	66.7%	71 MNOK
OCEANEERING AS	15.4%	85.7%	2,158 MNOK
HILDR AS	−95.9%	91.2%	0 MNOK
OMEGA SUBSEA AS	16.7%	61.6%	874 MNOK
OLYMPIC ARTEMIS AS	79.7%	71.5%	146 MNOK
ICR INTEGRITY NORGE AS	20.8%	87.8%	42 MNOK
ODIN DIVING NORGE AS	60.3%	87.0%	1 MNOK
NORD AS	50.0%	95.6%	2 MNOK
OLJEVEDLIKEHOLD AS	9.8%	96.8%	0 MNOK
NITROGAS AS	23.5%	85.5%	4 MNOK
TCO NORWAY AS	29.3%	32.5%	601 MNOK
EQUINOR IN SALAH AS	72.8%	51.4%	5,057 MNOK
FRANCON AS	58.7%	70.2%	3 MNOK
OLYMPIC ARES AS	76.8%	92.5%	131 MNOK
REACH SUBSEA SHIPPING AS	14.0%	35.0%	1,038 MNOK
TE AKTIVA AS	45.1%	82.9%	3 MNOK
ONSITE TREATMENT SERVICES AS	9.7%	63.5%	112 MNOK
HAVILA SUBSEA AS	72.4%	47.3%	206 MNOK
CEMIKO AS	31.1%	81.0%	2 MNOK
KOMPLEMENTAR CCB AS	94.1%	97.3%	0 MNOK
REM SALTIRE HOLDING AS	50.3%	99.0%	0 MNOK
PROSIK AS	38.2%	42.8%	2 MNOK
SIEN AS	−21.8%	96.5%	0 MNOK
KJEL OG BRENNERSERVICE AS	24.8%	84.4%	1 MNOK
R.NEVLAND AS	28.7%	80.0%	3 MNOK
RIG PARTNER PROJECT AS	16.1%	74.2%	4 MNOK
EQUINOR ANGOLA BLOCK 31 AS	69.3%	44.9%	1,233 MNOK
NYNAS AS	17.7%	89.2%	46 MNOK
LU CAP AS	84.6%	64.5%	1 MNOK
KVERNVOLD INVEST AS	−27.1%	100.0%	0 MNOK
WELL ID AS	38.2%	67.2%	61 MNOK
OLYMPIC OPERATION AS	9.7%	68.5%	255 MNOK
DOLPHIN DRILLING AS	1.6%	99.5%	27 MNOK
E PLUG AS	32.2%	62.7%	297 MNOK
J PERCY AS	3.5%	70.6%	1 MNOK
OLYMPIC HOLDING CHARTERING AS	5.5%	60.4%	775 MNOK
EQUINOR IN AMENAS AS	42.5%	72.8%	2,116 MNOK
CAPTROL AS	121.8%	62.0%	4 MNOK
OCEAN INSTALLER AS	23.2%	29.3%	4,113 MNOK
TJERBO INVEST AS	19.6%	87.0%	0 MNOK
FC WELL INVEST AS	99.7%	99.9%	97 MNOK
NORTH SEA GIANT II AS	81.6%	53.6%	229 MNOK
FAMOS ENGINEERING AS	−7.4%	99.3%	0 MNOK
DOF SUBSEA NORWAY AS	11.4%	29.7%	2,791 MNOK
HVAC OFFSHORE AS	32.8%	92.1%	1 MNOK
FORCE TECHNOLOGY NORWAY AS	10.1%	73.3%	241 MNOK
KOLBEINSVARDEN AS	0.2%	77.9%	0 MNOK
GM DEEPWATER CONSULTANCY AS	24.4%	76.8%	2 MNOK
GC RIEBER SHIPPING AS	4.9%	87.1%	31 MNOK
PETROMARIN HOLDING AS	−21.7%	96.0%	5 MNOK
NYE FJELLBERG EIENDOM AS	43.3%	69.5%	1 MNOK
EXPLONOR AS	75.4%	72.5%	3 MNOK
TASTA DRILLING AS	44.8%	61.4%	6 MNOK
REM SALTIRE AS	72.8%	48.0%	147 MNOK
WEST SUPPLY VII EIER AS	76.7%	66.5%	28 MNOK
MOORE ENERGY AS	102.4%	49.0%	24 MNOK
ALLSEAS NORWAY AS	2.5%	32.7%	1,325 MNOK
NORTH ATLANTIC AS	13.4%	88.7%	150 MNOK
DOLPHIN DRILLING OPERATIONS AS	3.2%	95.7%	26 MNOK
EQUINOR ANGOLA BLOCK 15 AS	45.7%	50.6%	2,130 MNOK
INDEPENDENT OIL TOOLS AS	17.4%	66.4%	199 MNOK
HALLIBURTON AS	5.6%	36.5%	13,401 MNOK
IK SUBSEA AS	11.8%	36.0%	282 MNOK
NORTH SEA RIGS AS	14.5%	48.3%	72 MNOK
TOOLSERV AS	6.0%	51.0%	118 MNOK
INEOS E&P (NORGE) PETROLEUM DK AS	133.7%	55.3%	–
RPG NORGE AS	20.7%	76.7%	4 MNOK
BILFINGER ISP OFFSHORE NORWAY AS	6.7%	79.7%	2,363 MNOK
PANDION ENERGY AS	37.8%	41.8%	–
INPEX IDEMITSU NORGE AS	38.0%	45.0%	5,716 MNOK
AT-JOA INVEST AS	94.4%	74.1%	0 MNOK
DNO YEMEN AS	95.0%	63.7%	–
ODFJELL DRILLING AS	27.7%	27.6%	1,079 MNOK
CONSTRUCTION SERVICES AS	14.2%	73.0%	10 MNOK
HAVILA HARMONY AS	138.5%	−127.1%	52 MNOK
JON LINDMAN AS	−1,560.3%	99.8%	0 MNOK
ARNE STANG INVEST AS	−203.0%	81.9%	1 MNOK
DF RENTAL AS	33.3%	39.3%	43 MNOK
EIDESVIK REACH AS	33.1%	64.8%	137 MNOK
DF GROUP AS	−58.2%	56.0%	6 MNOK
OPTIMISER AS	−658.2%	98.1%	0 MNOK
ODFJELL INVEST AS	3.2%	34.9%	1,895 MNOK
FLUID CONTROL SERVICE AS	14.0%	57.5%	168 MNOK
PRA GROUP EUROPE PORTFOLIO AS	−12.4%	99.8%	10 MNOK
INTERWELL NORWAY AS	15.6%	49.9%	1,904 MNOK
NORTH SEA GIANT AS	8.2%	79.4%	410 MNOK
MOHR AS	1.7%	82.7%	3 MNOK
AKASTOR ASA	−780.0%	96.6%	5 MNOK
JWS GRUPPEN AS	−0.2%	77.9%	14 MNOK
ASSET INTEGRITY AS	10.0%	56.6%	17 MNOK
TECHDOF BRASIL AS	54.4%	38.4%	–
DEEP CYGNUS OPERATION AS	5.4%	39.3%	144 MNOK
IKM TESTING AS	10.5%	35.5%	1,935 MNOK
SUBSEA 7 NORWAY AS	15.5%	25.3%	11,398 MNOK
JOHANNES ØSTENSJØ DY AS	−28,990.9%	95.3%	0 MNOK
IKM AQUAMARINE AS	11.6%	49.7%	144 MNOK
GRAND CANYON OPERATION 3 AS	13.2%	28.3%	166 MNOK
FLOWPARTNER AS	2.8%	80.5%	28 MNOK
HAUKAAS CONSULTING AS	39.2%	75.8%	3 MNOK
SEA1 OFFSHORE AS	0.5%	53.9%	183 MNOK
RAMCO NORWAY AS	25.7%	23.1%	271 MNOK
OLYMPIC TAURUS AS	76.4%	52.0%	92 MNOK
EQUINOR ENERGY AS	67.4%	38.3%	–
SAIPEM NORGE AS	8.9%	41.9%	82 MNOK
DIATEK AS	18.5%	85.8%	0 MNOK
DEEPOCEAN GROUP HOLDING AS	2.7%	39.8%	428 MNOK
OLYMPIC CHALLENGER AS	68.5%	55.9%	122 MNOK
MANGERUD AS	36.5%	20.7%	3 MNOK
SEA1 OFFSHORE CREW AS	3.0%	58.2%	112 MNOK
BOKA TOPAZ OPERATION AS	3.1%	53.1%	189 MNOK
APL NORWAY AS	13.8%	54.6%	–
DOF SUBSEA REDERI AS	44.3%	40.9%	–
KINNA AS	59.0%	87.1%	0 MNOK
IZOMAX AS	26.5%	45.7%	198 MNOK
HARBOUR ENERGY NORGE AS	57.3%	21.9%	–
BENGT ARE WÅGHEIM HOLDING AS	14.5%	28.3%	4 MNOK
PROPROC AS	50.7%	16.5%	3 MNOK
SCAN TECH AS	2.5%	82.7%	266 MNOK
ROCKWOOD CONSULTING AS	36.0%	8.6%	3 MNOK
PETROJARL I PRODUCTION AS	18.7%	92.5%	141 MNOK
AKASTOR AS	−29.2%	75.7%	59 MNOK
HAVILA SUBCON AS	72.6%	−3.0%	117 MNOK
PSW SOLUTIONS AS	19.3%	21.7%	100 MNOK
KAEFER ENERGY AS	6.9%	19.2%	3,511 MNOK
WEST SUPPLY III AS	28.4%	76.8%	372 MNOK
NORMAND SUPERIOR AS	68.8%	19.2%	96 MNOK
KIMEK OFFSHORE AS	10.8%	18.4%	36 MNOK
SIEM OFFSHORE OPCO AS	8.7%	0.1%	–
JACKTEL AS	34.1%	47.1%	–
KRAGSET ALT MULIG AS	35.0%	32.1%	1 MNOK
COSL OFFSHORE MANAGEMENT AS	−1.9%	46.4%	5,220 MNOK
INTELLISERV NORWAY AS	7.4%	40.9%	186 MNOK
CIMC OFFSHORE AS	25.8%	−13.5%	1,288 MNOK
RIG LINUS CONTRACTOR AS	11.9%	14.7%	–
IQI CERTIFICATION AS	6.2%	64.3%	0 MNOK
SEA1 OFFSHORE MARITIME PERSONNEL AS	3.1%	47.1%	–
NORTH SEA SHIPPING AS	0.2%	46.0%	434 MNOK
NOS RENTAL AS	21.0%	27.2%	50 MNOK
NORPIPE OIL AS	38.1%	22.4%	297 MNOK
ALTERA INFRASTRUCTURE PRODUCTION AS	10.8%	24.1%	724 MNOK
ORLEN UPSTREAM NORWAY AS	44.0%	28.0%	28,457 MNOK
INDUSTRIDYKK AS	5.8%	19.3%	20 MNOK
SUPERIOR ENERGY SERVICES (NORWAY) AS	0.1%	53.0%	31 MNOK
KVENNA AS	9.4%	33.9%	108 MNOK
MYRHAUG MARINE AS	1.1%	63.9%	5 MNOK
SUB AQUA TECHNOLOGY SAT AS	−24.7%	97.5%	1 MNOK
OLYMPIC OFFSHORE WIND AS	52.8%	30.7%	110 MNOK
AXTECH AS	6.7%	32.4%	296 MNOK
DOF SUBSEA CHARTERING AS	7.7%	13.2%	–
DOF SUBSEA REDERI III AS	38.6%	21.1%	228 MNOK
BW OFFSHORE NORWAY AS	5.1%	29.6%	386 MNOK
WOOD GROUP NORWAY AS	2.8%	23.1%	2,423 MNOK
DNO ASA	−85.9%	42.6%	–
SEA1 OFFSHORE INVEST AS	−1,292.0%	99.7%	0 MNOK
ATLANTIC OFFSHORE ALPHA AS	−0.7%	56.2%	49 MNOK
APPLY AS	2.4%	18.8%	5,019 MNOK
JAPEX NORGE AS	−17.1%	68.9%	269 MNOK
TENDEKA AS	4.0%	21.7%	–
AKER SOLUTIONS HOLDING AS	−2.7%	84.3%	203 MNOK
REM SUBSEA AS	55.1%	41.5%	175 MNOK
SUB SEA SERVICES AS	21.2%	31.3%	287 MNOK
DNO TECHNICAL SERVICES AS	0.0%	40.2%	–
ONESUBSEA AS	7.5%	14.6%	14,851 MNOK
A/S Norske Shell	81.2%	4.2%	25,249 MNOK
BOSKALIS OFFSHORE AS	1.7%	38.7%	–
SCANWELL AS	10.9%	33.6%	43 MNOK
TRADE TECH AS	5.6%	16.8%	47 MNOK
DEEP C SOLUTIONS AS	3.2%	20.6%	79 MNOK
OLYMPIC ELECTRA AS	83.7%	−22.6%	57 MNOK
TIOS CREWING AS	1.8%	34.9%	72 MNOK
OLYMPIC TRITON II AS	61.4%	35.7%	75 MNOK
EQUINOR DEZASSETE AS	57.4%	16.7%	4,791 MNOK
HAVILA SUBSEA MANAGEMENT AS	−7.7%	74.5%	39 MNOK
HAVILA SUBSEA CREWING AS	15.8%	21.0%	2 MNOK
MORELD GROUP AS	−32.9%	63.2%	46 MNOK
EQUINOR ANGOLA BLOCK 17 AS	53.8%	17.3%	6,398 MNOK
E INNOVATION NORGE AS	36.4%	5.0%	43 MNOK
SAGA OFFSHORE PARTNERS AS	−1.4%	44.5%	11 MNOK
HUNTING ENERGY SERVICES (NORWAY) AS	−27.0%	96.1%	31 MNOK
MCPHERSON AS	−1.3%	47.7%	1 MNOK
VERTECH OFFSHORE AS	6.0%	33.9%	41 MNOK
ODFJELL INVEST II AS	2.8%	12.9%	1,746 MNOK
WEST SUPPLY VII DRIFT AS	3.5%	22.0%	39 MNOK
DF PROPERTIES AS	99.9%	1.6%	7 MNOK
DEEPOCEAN AS	14.8%	14.1%	7,019 MNOK
KANFA AS	1.9%	29.4%	503 MNOK
AKER BP ASA	43.5%	25.1%	–
CMO AS	−381.6%	100.0%	0 MNOK
SOLSTAD CONSTRUCTION AS	32.4%	51.6%	387 MNOK
DNO IRAQ AS	3.0%	71.2%	–
NINE DOWNHOLE NORWAY AS	−1.2%	15.1%	98 MNOK
ARCHER OILTOOLS AS	15.9%	3.9%	1,339 MNOK
ISLAND DRILLING MANAGEMENT AS	1.6%	46.7%	50 MNOK
EQUINOR VENTURES AS	−777.6%	99.8%	32 MNOK
TOTALENERGIES EP NORGE AS	66.2%	9.5%	61,500 MNOK
EQUINOR ASA	8.2%	37.9%	–
AKER SOLUTIONS AS	4.1%	13.4%	59,801 MNOK
VÅR ENERGI ASA	51.7%	2.1%	–
ARCHER VERTIKAL AS	3.4%	20.3%	388 MNOK
WEST ASSET MANAGEMENT AS	0.0%	23.4%	34 MNOK
SUPPLY CHAIN MANAGEMENT SERVICES AS	0.0%	59.5%	52 MNOK
PERENCO VIETNAM AS	34.4%	41.1%	–
NORTH SEA SHIPPING HOLDING AS	−1,762.0%	43.3%	2 MNOK
SAIPEM DRILLING NORWAY AS	24.4%	23.7%	–
OMV NORGE AS	52.1%	8.1%	16,747 MNOK
OLYMPIC CREWING AS	2.3%	7.6%	494 MNOK
CABRAL AS	−0.2%	13.9%	1 MNOK
NORTH SEA OFFSHORE AS	0.3%	4.7%	85 MNOK
IK GROUP AS	149.8%	14.2%	1 MNOK
ARCHER AS	5.5%	26.7%	4,217 MNOK
TRANSOCEAN BARENTS ASA	25.7%	15.4%	–
NORTH SEA INFRASTRUCTURE AS	38.4%	16.6%	840 MNOK
TARGS AS	−190.6%	89.2%	0 MNOK
WELLTEC OILFIELD SERVICES (NORWAY) AS	4.6%	3.6%	857 MNOK
ALFA NORDIC SERVICES AS	1.3%	42.4%	22 MNOK
THREE60 ENERGY NORWAY AS	1.0%	36.6%	654 MNOK
PHRONTESEAS AS	−1.5%	38.8%	41 MNOK
OLYMPIC CREW MANAGEMENT AS	2.6%	0.5%	102 MNOK
IKM GRUPPEN AS	−44.5%	52.7%	102 MNOK
H&P DRILLING NORGE AS	5.2%	14.0%	2,200 MNOK
RIGHT VIKING AS	96.2%	−14.8%	0 MNOK
DIESEL CARE AS	12.5%	2.6%	7 MNOK
IBEX AS	−12.9%	86.0%	0 MNOK
EQUINOR ANGOLA AS	−137.9%	88.8%	2 MNOK
DEEP SEA DRILLING COMPANY AS	3.3%	11.9%	1,821 MNOK
HAVILA SERVICE AS	1.8%	−9.6%	70 MNOK
ON & OFFSHORE SERVICES AS	4.5%	17.1%	188 MNOK
WEATHERFORD NORGE AS	1.5%	28.6%	1,174 MNOK
PETRODATA AS	−92.1%	86.4%	0 MNOK
OTECH MARINE SERVICES NORWAY AS	36.0%	7.8%	54 MNOK
CK DRIFT AS	13.4%	14.0%	1 MNOK
SCANA ASA	−87.5%	71.2%	24 MNOK
CONOCOPHILLIPS SKANDINAVIA AS	47.4%	4.2%	39,871 MNOK
LOGE RESOURCES AS	2.3%	20.7%	2 MNOK
GRAND CANYON OPERATION 2 AS	2.9%	9.8%	172 MNOK
WELL SUPPORT AS	28.2%	−54,477.1%	0 MNOK
PETORO AS	−0.9%	12.8%	359 MNOK
WELLPARTNER AS	−8.2%	74.8%	97 MNOK
VOLANTIS OPERATION AS	4.5%	−1.7%	112 MNOK
MARDAHL INVEST AS	−636.6%	90.4%	0 MNOK
NORAM DRILLING AS	−622.7%	89.0%	–
LINJEBYGG AS	1.6%	22.7%	1,206 MNOK
INTERWELL AS	−48.4%	18.7%	97 MNOK
SOLSTAD SUPERIOR AS	12.8%	5.4%	191 MNOK
WAVZ ENGINEERING SERVICES AS	−6.9%	37.8%	2 MNOK
SEA1 MARINE CREW AS	0.8%	2.1%	196 MNOK
GHANA FPSO OPERATIONS AS	2.6%	3.0%	–
JANSEN OG WILLUMSEN SERVICES AS	−6.8%	44.4%	59 MNOK
NOV PROCESS & FLOW TECHNOLOGIES AS	4.8%	3.7%	3,979 MNOK
HAVILA SUBSEA & RENEWABLES AS	−12,872.1%	36.3%	0 MNOK
IO ULSTEINVIK AS	−0.1%	1.8%	53 MNOK
ODFJELL TECHNOLOGY AS	3.3%	34.0%	478 MNOK
DEEP SEA RIG AS	2.8%	7.5%	1,795 MNOK
AKOFS NORWAY OPERATIONS AS	−0.6%	41.5%	801 MNOK
BABYSHOP SENGEMAGASINET AS	4.8%	−8.5%	7 MNOK
NORMAND DRIFT AS	−5.8%	55.8%	348 MNOK
BEERENBERG SERVICES AS	7.2%	20.4%	2,011 MNOK
MACRO OFFSHORE OPERATIONS AS	2.7%	1.1%	26 MNOK
WELLESLEY PETROLEUM AS	−5,957.7%	53.7%	3 MNOK
AKER SOLUTIONS ASA	−79.2%	31.0%	53 MNOK
AKER SECURITY AS	3.3%	29.6%	116 MNOK
ABILITY HOLDING AS	−68,786.2%	53.9%	0 MNOK
VESTERVIND CONTRACTORS AS	−103.2%	32.2%	6 MNOK
SCHLUMBERGER NORGE AS	7.9%	8.9%	13,012 MNOK
IKM SUBSEA AS	10.9%	16.3%	474 MNOK
SUBSEA INSULATION AS	0.8%	−69.5%	4 MNOK
HAVILA MARITIME DIS I AS	38.3%	0.0%	48 MNOK
INGINEERING AS	−12.9%	72.1%	0 MNOK
FOURPHASE AS	−8.5%	60.4%	165 MNOK
DEEP C HOLDING AS	−2,477.4%	13.4%	0 MNOK
ODFJELL OPERATIONS AS	0.9%	15.6%	1,209 MNOK
OFFSHORE RESOURCE GROUP AS	24.3%	−19.7%	13 MNOK
CONNECTOR SUBSEA SOLUTIONS AS	−0.9%	29.0%	86 MNOK
ARCHER NORGE AS	−1.2%	24.8%	1,008 MNOK
TCO GROUP AS	−11,154.9%	29.3%	0 MNOK
REX GEO SOLUTION AS	1.1%	15.2%	1 MNOK
EQUINOR LIBYA AS	−160.9%	53.5%	13 MNOK
BISN NORWAY AS	−14.2%	−23.7%	21 MNOK
M VEST ENERGY AS	15.3%	−6.6%	726 MNOK
TASIK TOBA SUBSEA AS	6.5%	−3.3%	97 MNOK
SONGA OFFSHORE RIG 3 AS	6.0%	−1.3%	–
MOHN DRILLING AS	−5.1%	28.3%	111 MNOK
DEEP SEA MANAGEMENT INTERNATIONAL AS	1.2%	15.6%	–
REMOTION AS	−9.5%	47.4%	54 MNOK
SCORE AS	7.6%	17.0%	279 MNOK
AKOFS OFFSHORE OPERATIONS AS	11.7%	−33.4%	107 MNOK
ISLAND OFFSHORE CREWING AS	−0.1%	7.6%	297 MNOK
ENHANCED DRILLING INTERNATIONAL AS	10.0%	−1.1%	91 MNOK
AKOFS 2 AS	−32.3%	34.6%	162 MNOK
TDW OFFSHORE SERVICES AS	−0.4%	44.9%	156 MNOK
DEEP SEA MANAGEMENT AS	1.1%	3.5%	2,794 MNOK
HEYGAZ NORWAY AS	−291.8%	72.9%	2 MNOK
DNO NORGE AS	17.9%	15.6%	–
NORDIC SUBSEA AS	−13.0%	12.1%	7 MNOK
NAMTVEDT -SEALMAKER SERVICES AS	0.6%	−111.7%	7 MNOK
ENIFLUX AS	1.3%	−7.4%	4 MNOK
ROV & DYKKER SERVICE AS	−37.7%	54.4%	2 MNOK
H&P DRILLING OFFSHORE SERVICES AS	9.7%	−150.1%	–
DEEPOCEAN CORPORATE AS	1.1%	0.1%	141 MNOK
OKEA ASA	−4.3%	3.2%	–
TWMA NORGE AS	−5.1%	−15.1%	37 MNOK
DEEP SEA DRILLING COMPANY I AS	−7.9%	13.4%	3 MNOK
NDT GLOBAL AS	−30.2%	31.5%	90 MNOK
PETROLIA NOCO AS	15.7%	0.1%	635 MNOK
WELL INTERCEPT AS	−23.0%	28.2%	4 MNOK
SUBSEAPARTNER AS	0.8%	27.6%	142 MNOK
CONNECTOR DEEPWATER SOLUTIONS AS	−4.0%	2.6%	23 MNOK
ODFJELL WELL SERVICES AS	0.2%	2.7%	137 MNOK
PSW TECHNOLOGY AS	−2.4%	21.8%	672 MNOK
RIG HERCULES CONTRACTOR AS	2.4%	3.0%	287 MNOK
REPSOL NORGE AS	−24.1%	10.6%	5,522 MNOK
H&P MODU OPERATIONS AS	2.6%	0.3%	1,465 MNOK
ODFJELL WELL SERVICES NORWAY AS	−0.1%	6.2%	954 MNOK
PETRO WELL SERVICES AS	−578.6%	5.7%	3 MNOK
PETROLINK SUPPORT AS	−47.4%	13.6%	1 MNOK
IKM FLUID TREATMENT SOLUTIONS AS	−30.3%	19.0%	26 MNOK
OLYMPIC DELTA AS	−58.1%	37.1%	49 MNOK
ISLAND DRILLING CREWING AS	−0.1%	0.1%	160 MNOK
HAVILA CHARTERING AS	−0.8%	−119.3%	178 MNOK
SELNES GEOSCIENCE CONSULTING AS	−11.6%	−241.5%	1 MNOK
DOLPHIN DRILLING OFFSHORE AS	−142.7%	29.6%	284 MNOK
NORTERMINAL RESPONSE AS	−7.0%	−2,616.8%	2 MNOK
SLB KRISTIANSAND AS	−34.4%	28.0%	518 MNOK
ÅLESUND SUBSEA AS	−9.9%	−314.4%	2 MNOK
ISLAND OFFSHORE MANAGEMENT AS	−2.2%	5.3%	650 MNOK
CONCEDO AS	−30.7%	2.3%	416 MNOK
TRANSOCEAN NORWAY OPERATIONS AS	−8.2%	−3.6%	–
EQUINOR ARGENTINA AS	−710.4%	45.9%	21 MNOK
EXPRO NORWAY AS	−16.1%	−57.8%	731 MNOK
PRIMARY SOLUTIONS AS	−19.7%	−191.5%	1 MNOK
PROPLAN PROJECT PLANNING AS	−136.2%	6.7%	0 MNOK
BIRAL LUBRICANTS NORWAY AS	−30.2%	2.7%	2 MNOK
MARDAHL INDUSTRI AS	−9.5%	−11.7%	82 MNOK
IOSOLUTIONS AS	−6.0%	−730.8%	4 MNOK
AVIUM SUBSEA AS	−22.0%	−17.5%	–
GENESIS ENERGIES NORWAY AS	−10.0%	−61.7%	19 MNOK
REM SALTIRE INTERNATIONAL AS	0.4%	0.1%	218 MNOK
KISTOS ENERGY (NORWAY) AS	−8.9%	1.4%	1,081 MNOK
HØYDESIKRING ACCESS AS	−2.4%	−39.4%	12 MNOK
LIME PETROLEUM AS	−7.0%	−15.3%	2,984 MNOK
DK OFFSHORE AS	−8.6%	−38.4%	1 MNOK
CLAXTON ENGINEERING SERVICES AS	−44.3%	−37.8%	69 MNOK
SAFETY LEADERS AS	−8.0%	−37.6%	6 MNOK
NORTHERN OCEAN WIND AS	−1.5%	−2.3%	1,631 MNOK
SIGMA MARINE SERVICES AS	−542.5%	−205.4%	0 MNOK
MARITIM NORGE AS	−135.7%	−1,098.4%	0 MNOK
ISLAND DRILLING COMPANY AS	−355.1%	−48.2%	–
SAND & DEBRI CLEANUP AS	−736.9%	−24,760.9%	0 MNOK

Scenario analysis: the sector's weakest year

The sector's weakest year was 2022, with a median operating margin of 1.5%.

Based on the 5 fiscal years we have. The analysis grows as more years are fetched or imported.

Fiscal year	Median operating margin	Median equity ratio
2022 · weakest year	1.5%	49.1%
2023	7.7%	40.3%
2024	6.3%	41.1%
2025	5.4%	41.9%
2026	–	71.6%

In 2022, 7 ranked companies did better than the sector, 0 about the same and 6 weaker.

Held up best in 2022

1VETCO GRAY SCANDINAVIA ASequity ratio 34.2%13.7%
2VAN OORD NORWAY ASequity ratio 35.6%11.7%
3ALTUS INTERVENTION ASequity ratio 63.3%11.3%
4SARENS ASequity ratio 62.7%2.5%
5NOBLE INTEGRATOR OPERATIONS ASequity ratio 8.3%2.2%
6NOBLE INTREPID OPERATIONS ASequity ratio 46.1%1.8%
7PETRONOR ASequity ratio 14.2%1.5%

Better than the sector: operating margin at or above the sector median and no loss or negative equity. Weaker: operating margin below the median and a loss or negative equity. Otherwise about the same as the sector. Methodology

The sector in Norway (SSB)

The whole industry as Statistics Norway counts it: every enterprise, not only the limited companies we rank. Use these figures as background for the ranking above.

Enterprises, employment and turnover · 2024

Enterprises: 353; −9.9% from 2023
Persons employed · 2023: 67,328
Turnover · 2023: NOK 1,558.0 bn
Gross operating margin · 2023: 79.5%; Gross operating surplus divided by turnover

All enterprises, sole proprietorships included. SSB withholds some figures for confidentiality. The figure then shows the latest year with every value, and the year is given beside it.

Bankruptcies in the industry

2 enterprise bankruptcies in the last four quarters (2025K4–2026K3). Change +100.0% against the four quarters before (1). That is about 5.7 per 1,000 enterprises.

Foreign-controlled enterprises · 2024

Share of enterprises: 13.5%
Share of persons employed: 47.2%
Share of turnover: –

SSB publishes this for groups of industries only. The figures are for the group “Olje- og gassutvinning og bergverksdrift”. A dash means SSB withholds the figure.

Production index · Utvinning og utvinningstjenester

107.0 index, 2021 = 100, seasonally adjusted · 2026M08
−0.4% against 2025M08.

Monthly, 2023M08 to 2026M08.

Source: Statistics Norway (SSB), table 12910, table 10790, table 08085, table 07095. CC BY 4.0. Our industry codes (SN2025) are linked to SSB’s (SN2007) with SSB’s correspondence table in Klass.

Latest bankruptcies and liquidations

OCV RECOVERY AS 984158939 Voluntary liquidation · 10 October 2026
KARPINSKY OIL & GAS COMPANY AS 979302932 Voluntary liquidation · 21 August 2026 · 6 MNOK (2025)
FEARNLEY NORGE AS 986548742 Voluntary liquidation · 4 August 2026
UPSTREAM CONSULTANTS AS 982790239 Voluntary liquidation · 3 June 2026 · 1 MNOK (2025)
CAPEOMEGA AS 995152142 Voluntary liquidation · 24 April 2026
NORTH SEA COMMANDER SHIPPING AS 989594877 Voluntary liquidation · 24 April 2026 · 78 MNOK (2025)
FRAM ENERGY AS 974346427 Bankruptcy · 27 November 2025
PETROLINK AS 960715853 Bankruptcy · 15 October 2025 · 18 MNOK (2024)

All bankruptcies and liquidations in the sector

Industry codes (NACE)

Code	Description
06.100	Utvinning av råolje
06.200	Utvinning av naturgass
09.101	Boretjenester tilknyttet utvinning av råolje og naturgass
09.109	Andre tjenester tilknyttet utvinning av råolje og naturgass
19.200	Produksjon av raffinerte petroleumsprodukter og fossile brenselsprodukter
49.500	Rørtransport

Ranking by size · 2025

Large

Medium

Small

Biggest moves

Positions in the sector · 2025

This year's sector article is coming

Summary · fiscal year 2025

Climbers and fallers

Climbers

Fallers

Awards · 2025

Needs attention · 2025

Sector map · 2025

Scenario analysis: the sector's weakest year

Held up best in 2022

The sector in Norway (SSB)

Enterprises, employment and turnover · 2024

Bankruptcies in the industry

Foreign-controlled enterprises · 2024

Production index · Utvinning og utvinningstjenester

Latest bankruptcies and liquidations

Industry codes (NACE)