Sector

Oil and gas

320 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	SEA1 OFFSHORE REDERI AS	Leader	85	+48
2	EQUINOR REFINING NORWAY AS	Leader	84	+71
3	EQUINOR MURZUQ AS	Leader	81	+3
4	OCEANEERING AS	Leader	74	+11
5	EQUINOR IN SALAH AS	Leader	74	+13
6	REACH SUBSEA SHIPPING AS	Leader	72	−5
7	EQUINOR ANGOLA BLOCK 31 AS	Leader	71	+6
8	PANDION ENERGY AS	Leader	70	+36
9	OCEAN INSTALLER AS	Leader	68	+21
10	EQUINOR IN AMENAS AS	Leader	68	+1
11	DOF SUBSEA NORWAY AS	Leader	67	−10
12	EQUINOR ANGOLA BLOCK 15 AS	Leader	65	0
13	ALLSEAS NORWAY AS	Steward	64	+14
14	INPEX IDEMITSU NORGE AS	Leader	64	−12
15	TECHDOF BRASIL AS	Leader	64	+25
16	ODFJELL DRILLING AS	Leader	63	−2
17	HALLIBURTON AS	Steward	63	+1
18	EQUINOR ENERGY AS	Leader	62	+6
19	ODFJELL INVEST AS	Steward	61	+17
20	DOF SUBSEA REDERI AS	Leader	60	−17
21	HARBOUR ENERGY NORGE AS	Sprinter	60	−7
22	BILFINGER ISP OFFSHORE NORWAY AS	Steward	60	+1
23	INTERWELL NORWAY AS	Leader	60	−9
24	SUBSEA 7 NORWAY AS	Leader	60	−12
25	IKM TESTING AS	Leader	59	−2
26	COSL OFFSHORE MANAGEMENT AS	Steward	58	−2
27	KAEFER ENERGY AS	Sprinter	54	+1
28	CIMC OFFSHORE AS	Sprinter	53	+17
29	ORLEN UPSTREAM NORWAY AS	Leader	53	−10
30	APPLY AS	Builder	51	+6
31	WOOD GROUP NORWAY AS	Builder	50	+12
32	A/S Norske Shell	Sprinter	50	+6
33	DOF SUBSEA CHARTERING AS	Builder	50	+25
34	EQUINOR DEZASSETE AS	Sprinter	49	−5
35	ONESUBSEA AS	Builder	49	+4
36	EQUINOR ANGOLA BLOCK 17 AS	Sprinter	48	−4
37	DNO IRAQ AS	Steward	47	0
38	DEEPOCEAN AS	Sprinter	47	−15
39	AKER BP ASA	Leader	47	−12
40	ARCHER OILTOOLS AS	Sprinter	47	0
41	TOTALENERGIES EP NORGE AS	Sprinter	46	−11
42	ODFJELL INVEST II AS	Builder	46	+14
43	EQUINOR ASA	Steward	45	−9
44	AKER SOLUTIONS AS	Builder	45	+7
45	OMV NORGE AS	Sprinter	45	+3
46	ARCHER AS	Steward	44	+6
47	H&P DRILLING NORGE AS	Builder	43	+2
48	SAIPEM DRILLING NORWAY AS	Leader	43	+3
49	WEATHERFORD NORGE AS	Steward	42	+23
50	CONOCOPHILLIPS SKANDINAVIA AS	Sprinter	41	−1

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Medium

Medium · 2025
#	Company	Profile	Score	Change
1	CAPEOMEGA GAS TRANSPORTATION AS	Leader	85	+24
2	EQUINOR ENERGY LIBYA AS	Leader	83	–
3	DELMAR SYSTEMS AS	Leader	80	+39
4	ENHANCED DRILLING AS	Leader	78	+9
5	OMEGA SUBSEA AS	Leader	77	−5
6	NORTH SEA ENABLER AS	Leader	76	+11
7	OLYMPIC ARTEMIS AS	Leader	75	+3
8	ONSITE TREATMENT SERVICES AS	Leader	73	+11
9	TCO NORWAY AS	Sprinter	73	+28
10	OLYMPIC OPERATION AS	Leader	72	+1
11	HAVILA SUBSEA AS	Leader	72	+8
12	OLYMPIC ARES AS	Leader	71	−8
13	E PLUG AS	Leader	71	−2
14	OLYMPIC HOLDING CHARTERING AS	Leader	71	0
15	NORTH SEA GIANT II AS	Leader	70	0
16	FORCE TECHNOLOGY NORWAY AS	Leader	70	+5
17	REM SALTIRE AS	Leader	68	−16
18	DNO YEMEN AS	Leader	67	–
19	INDEPENDENT OIL TOOLS AS	Leader	66	−4
20	TOOLSERV AS	Leader	65	+6
21	FLUID CONTROL SERVICE AS	Leader	64	−10
22	NORTH ATLANTIC AS	Leader	64	+18
23	IK SUBSEA AS	Sprinter	64	+8
24	EIDESVIK REACH AS	Leader	62	−12
25	IKM AQUAMARINE AS	Leader	62	−13
26	NORTH SEA GIANT AS	Leader	61	−16
27	GRAND CANYON OPERATION 3 AS	Sprinter	61	+21
28	SEA1 OFFSHORE CREW AS	Leader	60	+17
29	OLYMPIC CHALLENGER AS	Leader	60	−31
30	DEEP CYGNUS OPERATION AS	Leader	60	+22
31	SEA1 OFFSHORE AS	Steward	60	+15
32	RAMCO NORWAY AS	Sprinter	59	−14
33	BOKA TOPAZ OPERATION AS	Steward	59	−4
34	APL NORWAY AS	Leader	58	+6
35	PETROJARL I PRODUCTION AS	Steward	58	−9
36	DEEPOCEAN GROUP HOLDING AS	Leader	58	+3
37	IZOMAX AS	Leader	58	−15
38	SCAN TECH AS	Steward	57	−10
39	WEST SUPPLY III AS	Leader	57	−26
40	SEA1 OFFSHORE MARITIME PERSONNEL AS	Leader	57	+14
41	JAPEX NORGE AS	Steward	55	+4
42	HAVILA SUBCON AS	Sprinter	55	+3
43	INTELLISERV NORWAY AS	Steward	55	−12
44	NORTH SEA SHIPPING AS	Steward	54	+16
45	JACKTEL AS	Leader	54	+4
46	NORPIPE OIL AS	Sprinter	54	−1
47	OLYMPIC OFFSHORE WIND AS	Sprinter	54	−24
48	SIEM OFFSHORE OPCO AS	Sprinter	54	+25
49	ALTERA INFRASTRUCTURE PRODUCTION AS	Sprinter	53	+23
50	BW OFFSHORE NORWAY AS	Sprinter	53	+3

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Small

Small · 2025
#	Company	Profile	Score	Change
1	HAVEN RIGCO AS	Leader	84	+38
2	LANGGÅRD AS	Leader	84	–
3	JEPSEN OFFSHORE AS	Leader	82	+8
4	SJØLIE OFFSHORE AS	Leader	81	+5
5	JARALA AS	Leader	81	–
6	OLYMPIC SERVICES AS	Leader	80	–
7	TECNOR AS	Leader	80	+3
8	CINCLUS IV AS	Leader	78	−7
9	ICR INTEGRITY NORGE AS	Leader	77	+5
10	NITROGAS AS	Leader	77	+8
11	FRANCON AS	Leader	76	0
12	TE AKTIVA AS	Leader	75	−3
13	NORD AS	Leader	74	−4
14	CEMIKO AS	Leader	74	−2
15	KJEL OG BRENNERSERVICE AS	Leader	74	–
16	R.NEVLAND AS	Leader	73	+2
17	PROSIK AS	Sprinter	72	–
18	RIG PARTNER PROJECT AS	Leader	72	+14
19	WELL ID AS	Leader	72	+2
20	J PERCY AS	Leader	72	–
21	NYNAS AS	Leader	71	+2
22	CAPTROL AS	Leader	71	−9
23	TASTA DRILLING AS	Leader	70	+18
24	GM DEEPWATER CONSULTANCY AS	Leader	69	+16
25	DOLPHIN DRILLING AS	Steward	68	+39
26	EXPLONOR AS	Leader	68	−10
27	PETROMARIN HOLDING AS	Leader	68	+9
28	GC RIEBER SHIPPING AS	Steward	68	+16
29	NYE FJELLBERG EIENDOM AS	Leader	67	−1
30	FC WELL INVEST AS	Leader	67	−13
31	WEST SUPPLY VII EIER AS	Leader	66	−5
32	NORTH SEA RIGS AS	Leader	66	+23
33	RPG NORGE AS	Leader	66	−1
34	MOORE ENERGY AS	Leader	65	+25
35	DOLPHIN DRILLING OPERATIONS AS	Steward	65	+7
36	CONSTRUCTION SERVICES AS	Leader	65	−10
37	DF GROUP AS	Steward	63	–
38	JWS GRUPPEN AS	Leader	63	+12
39	HAVILA HARMONY AS	Sprinter	62	+31
40	FLOWPARTNER AS	Leader	62	−8
41	MOHR AS	Steward	62	+14
42	ASSET INTEGRITY AS	Leader	62	+21
43	AKASTOR ASA	Steward	62	+14
44	INEOS E&P (NORGE) PETROLEUM DK AS	Leader	61	+47
45	DF RENTAL AS	Sprinter	61	+11
46	PRA GROUP EUROPE PORTFOLIO AS	Steward	60	+4
47	HAUKAAS CONSULTING AS	Leader	60	0
48	SAIPEM NORGE AS	Sprinter	59	0
49	OLYMPIC TAURUS AS	Leader	59	−3
50	AKASTOR AS	Steward	58	+5

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

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%.
+71
SEA1 OFFSHORE REDERI AS
From 2024 to 2025: the operating margin rose from 41.2% to 63.5% and the equity ratio rose from 31.1% to 65.3%.
+48
DOF SUBSEA REDERI III AS
From 2024 to 2025: the operating margin rose from −16.3% to 38.6% and the equity ratio rose from −56.0% to 21.1%.
+47
INEOS E&P (NORGE) PETROLEUM DK AS
From 2024 to 2025: the operating margin rose from −195.7% to 133.7% and the equity ratio rose from −112.0% to 55.3%.
+47

Summary analysis

Olje og gass: 320 ranked companies in fiscal year 2025.

Best in the sector: CAPEOMEGA GAS TRANSPORTATION AS (score 85, operating margin 98.5%, equity ratio 98.7%). SEA1 OFFSHORE REDERI AS (score 85, operating margin 63.5%, equity ratio 65.3%). HAVEN RIGCO AS (score 84, operating margin 122.4%, equity ratio 97.3%).

Weakest in the sector: ISLAND DRILLING COMPANY AS (score 2, operating margin −355.1%, equity ratio −48.2%). CLAXTON ENGINEERING SERVICES AS (score 8, operating margin −44.3%, equity ratio −37.8%). SAFETY LEADERS AS (score 9, operating margin −8.0%, equity ratio −37.6%).

Worth a closer look

The median operating margin fell from 6.8% in 2024 to 5.7% in 2025 (1.1 percentage points).
The median equity ratio rose from 29.4% in 2024 to 32.6% in 2025 (3.2 percentage points).
The median revenue growth fell from 8.0% in 2024 to 4.7% in 2025 (3.3 percentage points).
The share with a loss went from 35% in 2024 to 36% in 2025.

Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made

Top lists in the sector · 2025

The five largest companies account for 74% of the sector's revenue. Combined profit before tax for the 320 ranked companies: 584,200 MNOK.

Highest revenue

EQUINOR ASA 706,144 MNOK
EQUINOR ENERGY AS 386,771 MNOK
AKER BP ASA 113,711 MNOK
VÅR ENERGI ASA 84,127 MNOK
TOTALENERGIES EP NORGE AS 61,500 MNOK

Operating revenue.

Highest operating margin

IK GROUP AS 149.8%
HAVILA HARMONY AS 138.5%
INEOS E&P (NORGE) PETROLEUM DK AS 133.7%
HAVEN RIGCO AS 122.4%
CAPTROL AS 121.8%

Operating result divided by operating revenue.

Largest profit

EQUINOR ENERGY AS 260,861 MNOK
EQUINOR ASA 63,636 MNOK
AKER BP ASA 47,883 MNOK
VÅR ENERGI ASA 44,755 MNOK
TOTALENERGIES EP NORGE AS 40,674 MNOK

Profit before tax.

Largest loss

SCHLUMBERGER NORGE AS −3,169 MNOK
REPSOL NORGE AS −1,433 MNOK
DOLPHIN DRILLING AS −1,101 MNOK
ISLAND DRILLING COMPANY AS −683 MNOK
LIME PETROLEUM AS −459 MNOK

Profit before tax, the largest negative.

Most solid

JARALA AS 99.9%
FC WELL INVEST AS 99.9%
CINCLUS IV AS 99.8%
PRA GROUP EUROPE PORTFOLIO AS 99.8%
EQUINOR VENTURES AS 99.8%

Equity ratio: equity divided by total assets.

Fastest growth

SEA1 MARINE CREW AS +366.2%
TRANSOCEAN BARENTS ASA +298.9%
INEOS E&P (NORGE) PETROLEUM DK AS +297.9%
WEST ASSET MANAGEMENT AS +152.0%
DOF SUBSEA NORWAY AS +142.4%

Revenue growth from the year before, only from at least NOK 10 million in revenue.

Largest revenue decline

DEEP SEA DRILLING COMPANY I AS −98.2%
FC WELL INVEST AS −86.4%
PETROJARL I PRODUCTION AS −83.4%
EQUINOR ARGENTINA AS −82.0%
DNO NORGE AS −75.9%

Revenue decline from the year before, only from at least NOK 10 million in revenue.

Biggest climbers

EQUINOR REFINING NORWAY AS +70.6 points
SEA1 OFFSHORE REDERI AS +47.6 points
INEOS E&P (NORGE) PETROLEUM DK AS +47.5 points
DOF SUBSEA REDERI III AS +46.7 points
TRANSOCEAN BARENTS ASA +39.3 points

Change in index points from the year before.

Biggest fallers

TDW OFFSHORE SERVICES AS −33.3 points
OKEA ASA −32.9 points
OLYMPIC DELTA AS −32.6 points
SOLSTAD CONSTRUCTION AS −31.9 points
NORMAND DRIFT AS −31.4 points

Change in index points from the year before.

Most employees

EQUINOR ASA 21,231
AKER SOLUTIONS AS 8,853
AKER BP ASA 3,127
HALLIBURTON AS 2,643
SCHLUMBERGER NORGE AS 2,490

Employees according to the Central Coordinating Register.

Highest revenue per employee

TOTALENERGIES EP NORGE AS 661.3 MNOK
ORLEN UPSTREAM NORWAY AS 258.7 MNOK
OMV NORGE AS 204.2 MNOK
HARBOUR ENERGY NORGE AS 155.8 MNOK
LIME PETROLEUM AS 93.2 MNOK

Only companies with at least 5 employees.

The lists cover ranked companies: operating companies above the minimum revenue, without holding companies and excluded ones. Source: Brønnøysund Register Centre. Amounts in other currencies are converted at Norges Bank's rates.

Positions in the sector · 2025

Bubble size shows relative revenue, not exact figures. Dashed lines show where the 5 companies that moved most stood in 2024 (small ring).

EQUINOR REFINING NORWAY AS profitability 1 → 86, solidity 37 → 92
INEOS E&P (NORGE) PETROLEUM DK AS profitability 8 → 76, solidity 0 → 58
DOF SUBSEA REDERI III AS profitability 9 → 86, solidity 0 → 29
TDW OFFSHORE SERVICES AS profitability 83 → 15, solidity 65 → 59
OKEA ASA profitability 71 → 8, solidity 14 → 8

Show the positions as a list

Company	Profile	Profitability	Solidity	In 2024 (profitability / solidity)
EQUINOR MURZUQ AS	Lion	99	91	99 / 86
DNO YEMEN AS	Lion	99	85	–
HAVILA HARMONY AS	Cheetah	98	0	69 / 0
DF PROPERTIES AS	Cheetah	98	9	–
EQUINOR IN SALAH AS	Lion	98	89	94 / 82
A/S Norske Shell	Cheetah	98	14	96 / 4
EQUINOR ENERGY LIBYA AS	Lion	97	67	–
OLYMPIC SERVICES AS	Lion	97	65	–
CAPTROL AS	Lion	94	62	87 / 79
OLYMPIC ARTEMIS AS	Lion	94	90	87 / 49
OLYMPIC ELECTRA AS	Cheetah	93	0	83 / 0
OLYMPIC CHALLENGER AS	Lion	93	77	96 / 92
MOORE ENERGY AS	Lion	92	53	57 / 19
SJØLIE OFFSHORE AS	Lion	92	95	86 / 64
PROPROC AS	Cheetah	92	22	91 / 23
TOTALENERGIES EP NORGE AS	Cheetah	92	22	92 / 34
TASTA DRILLING AS	Lion	91	61	89 / 17
REM SALTIRE AS	Lion	91	65	87 / 77
TECNOR AS	Lion	90	74	91 / 60
NORTH SEA GIANT II AS	Lion	90	73	82 / 74
TCO NORWAY AS	Cheetah	89	46	61 / 19
OLYMPIC TAURUS AS	Lion	89	54	86 / 21
OMV NORGE AS	Cheetah	88	19	86 / 16
OLYMPIC ARES AS	Lion	88	98	76 / 81
EQUINOR ENERGY AS	Lion	88	76	88 / 69
FRANCON AS	Lion	87	68	89 / 83
PROSIK AS	Cheetah	87	47	–
EXPLONOR AS	Lion	87	70	88 / 91
E PLUG AS	Lion	87	83	89 / 72
EQUINOR ANGOLA BLOCK 31 AS	Lion	87	82	95 / 43
RAMCO NORWAY AS	Cheetah	86	33	87 / 67
MANGERUD AS	Cheetah	86	29	86 / 34
ROCKWOOD CONSULTING AS	Cheetah	86	17	89 / 19
OTECH MARINE SERVICES NORWAY AS	Cheetah	86	16	92 / 6
EQUINOR REFINING NORWAY AS	Lion	86	92	1 / 37
DOF SUBSEA REDERI III AS	Cheetah	86	29	9 / 0
IK GROUP AS	Cheetah	86	20	33 / 11
EQUINOR DEZASSETE AS	Cheetah	83	39	87 / 47
TE AKTIVA AS	Lion	83	82	90 / 73
WELL ID AS	Lion	82	66	79 / 51
PANDION ENERGY AS	Lion	82	80	49 / 27
DELMAR SYSTEMS AS	Lion	82	82	55 / 30
HAVILA SUBCON AS	Cheetah	82	0	96 / 0
NORTH SEA INFRASTRUCTURE AS	Cheetah	82	25	83 / 33
ENHANCED DRILLING AS	Lion	82	69	71 / 71
E INNOVATION NORGE AS	Cheetah	82	14	89 / 20
CONOCOPHILLIPS SKANDINAVIA AS	Cheetah	82	16	78 / 8
SEA1 OFFSHORE REDERI AS	Lion	80	94	49 / 66
EQUINOR ANGOLA BLOCK 17 AS	Cheetah	80	40	84 / 48
CINCLUS IV AS	Lion	80	98	79 / 98
OLYMPIC OFFSHORE WIND AS	Cheetah	80	43	90 / 55
OLYMPIC TRITON II AS	Cheetah	80	41	84 / 30
HARBOUR ENERGY NORGE AS	Cheetah	79	46	75 / 56
WEST SUPPLY VII EIER AS	Lion	79	64	74 / 64
OMEGA SUBSEA AS	Lion	79	82	81 / 78
IZOMAX AS	Lion	79	60	82 / 83
DF RENTAL AS	Cheetah	79	44	77 / 31
EQUINOR IN AMENAS AS	Lion	79	97	83 / 92
ODFJELL DRILLING AS	Lion	79	59	86 / 56
PSW SOLUTIONS AS	Cheetah	79	30	80 / 28
LANGGÅRD AS	Lion	78	92	–
NORTH SEA RIGS AS	Lion	78	52	46 / 25
HAUKAAS CONSULTING AS	Lion	78	76	90 / 62
HAVEN RIGCO AS	Lion	78	94	35 / 96
SUB SEA SERVICES AS	Cheetah	78	44	82 / 43
GRAND CANYON OPERATION 3 AS	Cheetah	77	38	25 / 39
JEPSEN OFFSHORE AS	Lion	77	92	70 / 97
CEMIKO AS	Lion	76	81	79 / 75
R.NEVLAND AS	Lion	76	79	84 / 72
CAPEOMEGA GAS TRANSPORTATION AS	Lion	76	100	66 / 99
INEOS E&P (NORGE) PETROLEUM DK AS	Lion	76	58	8 / 0
REM SUBSEA AS	Lion	76	56	88 / 64
OLYMPIC OPERATION AS	Lion	75	88	72 / 62
OCEAN INSTALLER AS	Lion	75	63	60 / 22
HAVILA SUBSEA AS	Lion	74	64	75 / 80
FC WELL INVEST AS	Lion	74	99	100 / 100
CIMC OFFSHORE AS	Cheetah	74	0	27 / 0
NORPIPE OIL AS	Cheetah	73	32	63 / 36
OFFSHORE RESOURCE GROUP AS	Cheetah	73	0	32 / 0
SUBSEA 7 NORWAY AS	Lion	73	56	58 / 83
DEEPOCEAN AS	Cheetah	73	33	64 / 68
NORMAND SUPERIOR AS	Cheetah	73	26	71 / 29
JACKTEL AS	Lion	72	62	47 / 75
BW OFFSHORE NORWAY AS	Cheetah	72	42	73 / 35
GM DEEPWATER CONSULTANCY AS	Lion	72	78	57 / 69
BENGT ARE WÅGHEIM HOLDING AS	Cheetah	72	34	58 / 45
PERENCO VIETNAM AS	Cheetah	72	44	93 / 53
ORLEN UPSTREAM NORWAY AS	Lion	72	60	75 / 62
FLUID CONTROL SERVICE AS	Lion	72	78	90 / 69
EIDESVIK REACH AS	Lion	71	86	64 / 88
SIEM OFFSHORE OPCO AS	Cheetah	71	5	55 / 0
J PERCY AS	Lion	71	68	–
ASSET INTEGRITY AS	Lion	71	60	49 / 33
SOLSTAD CONSTRUCTION AS	Lion	71	70	72 / 73
EQUINOR ANGOLA BLOCK 15 AS	Lion	70	88	87 / 59
RIG PARTNER PROJECT AS	Lion	70	72	86 / 49
KIMEK OFFSHORE AS	Cheetah	70	24	67 / 57
RIG LINUS CONTRACTOR AS	Cheetah	69	21	47 / 7
TECHDOF BRASIL AS	Lion	69	77	34 / 71
NORTH SEA GIANT AS	Lion	69	93	68 / 93
INPEX IDEMITSU NORGE AS	Lion	68	83	83 / 88
VÅR ENERGI ASA	Cheetah	68	7	64 / 5
RPG NORGE AS	Lion	68	77	64 / 84
INDEPENDENT OIL TOOLS AS	Lion	68	87	76 / 79
NITROGAS AS	Lion	68	84	59 / 94
NORD AS	Lion	68	88	63 / 95
CONSTRUCTION SERVICES AS	Lion	68	71	75 / 77
OLYMPIC CREW MANAGEMENT AS	Cheetah	67	9	65 / 9
ICR INTEGRITY NORGE AS	Lion	67	85	57 / 89
KJEL OG BRENNERSERVICE AS	Lion	67	83	–
IK SUBSEA AS	Cheetah	66	49	71 / 51
SEA1 OFFSHORE MARITIME PERSONNEL AS	Lion	66	63	63 / 23
HAVILA MARITIME DIS I AS	Cheetah	65	0	85 / 0
FORCE TECHNOLOGY NORWAY AS	Lion	65	91	45 / 85
IKM AQUAMARINE AS	Lion	64	66	76 / 73
INDUSTRIDYKK AS	Cheetah	63	27	20 / 36
REACH SUBSEA SHIPPING AS	Lion	63	69	79 / 68
ARCHER OILTOOLS AS	Cheetah	62	13	40 / 13
SAIPEM NORGE AS	Cheetah	62	45	57 / 53
MACRO OFFSHORE OPERATIONS AS	Cheetah	62	8	–
OLYMPIC HOLDING CHARTERING AS	Lion	62	80	69 / 87
NOS RENTAL AS	Cheetah	62	33	58 / 41
NYE FJELLBERG EIENDOM AS	Lion	62	67	69 / 63
ONSITE TREATMENT SERVICES AS	Lion	61	84	60 / 61
WEST SUPPLY III AS	Lion	61	92	81 / 90
SCANWELL AS	Cheetah	61	38	70 / 67
JARALA AS	Lion	61	100	–
VERTECH OFFSHORE AS	Cheetah	60	39	79 / 24
TRADE TECH AS	Cheetah	60	23	15 / 16
WELLTEC OILFIELD SERVICES (NORWAY) AS	Cheetah	59	13	57 / 11
NORTH SEA ENABLER AS	Lion	59	99	63 / 96
APL NORWAY AS	Lion	59	75	41 / 86
NORTH ATLANTIC AS	Lion	59	96	54 / 76
IKM TESTING AS	Lion	59	71	62 / 63
DEEP CYGNUS OPERATION AS	Lion	58	52	10 / 61
OLYMPIC CREWING AS	Cheetah	58	17	47 / 13
PETROLIA NOCO AS	Cheetah	58	7	39 / 0
NYNAS AS	Lion	58	88	53 / 88
SEA1 OFFSHORE CREW AS	Lion	57	79	56 / 27
FLOWPARTNER AS	Lion	57	80	78 / 56
SOLSTAD SUPERIOR AS	Cheetah	57	15	26 / 26
TOOLSERV AS	Lion	57	68	58 / 63
BABYSHOP SENGEMAGASINET AS	Cheetah	57	0	26 / 0
AKER BP ASA	Lion	56	54	74 / 65
ALTERA INFRASTRUCTURE PRODUCTION AS	Cheetah	56	34	20 / 24
DOF SUBSEA NORWAY AS	Lion	55	65	54 / 95
DOF SUBSEA REDERI AS	Lion	55	79	68 / 85
M VEST ENERGY AS	Cheetah	55	0	78 / 0
PETROMARIN HOLDING AS	Lion	55	90	31 / 94
ENHANCED DRILLING INTERNATIONAL AS	Cheetah	54	0	–
DIESEL CARE AS	Cheetah	54	11	43 / 14
HAVILA SUBSEA CREWING AS	Cheetah	54	30	34 / 27
INTERWELL NORWAY AS	Lion	53	86	62 / 77
SAIPEM DRILLING NORWAY AS	Lion	53	51	51 / 31
AXTECH AS	Cheetah	53	45	19 / 54
TIOS CREWING AS	Cheetah	52	40	39 / 43
DEEP C SOLUTIONS AS	Cheetah	52	27	54 / 18
WEST SUPPLY VII DRIFT AS	Cheetah	52	31	57 / 22
HAVILA SERVICE AS	Cheetah	52	0	19 / 0
TASIK TOBA SUBSEA AS	Cheetah	51	0	41 / 0
TRANSOCEAN BARENTS ASA	Cheetah	51	22	1 / 0
KAEFER ENERGY AS	Cheetah	51	43	43 / 60
DEEPOCEAN GROUP HOLDING AS	Lion	50	53	34 / 79
OCEANEERING AS	Lion	50	100	40 / 97
JWS GRUPPEN AS	Lion	50	78	31 / 68
KVENNA AS	Cheetah	50	47	55 / 52
IKM SUBSEA AS	Cheetah	50	24	45 / 25
SUBSEA INSULATION AS	Beaver	50	0	58 / 0
ONESUBSEA AS	Beaver	49	34	49 / 7
ON & OFFSHORE SERVICES AS	Beaver	49	27	40 / 32
GHANA FPSO OPERATIONS AS	Beaver	48	13	36 / 13
H&P DRILLING OFFSHORE SERVICES AS	Beaver	48	0	67 / 0
DF GROUP AS	Elephant	47	58	–
LOGE RESOURCES AS	Beaver	47	28	39 / 39
GC RIEBER SHIPPING AS	Elephant	46	85	20 / 85
VOLANTIS OPERATION AS	Beaver	46	0	33 / 0
DOLPHIN DRILLING OPERATIONS AS	Elephant	46	89	40 / 80
DOF SUBSEA CHARTERING AS	Beaver	46	28	37 / 18
H&P DRILLING NORGE AS	Beaver	46	31	49 / 30
MORELD GROUP AS	Elephant	45	63	36 / 66
ARCHER VERTIKAL AS	Beaver	44	28	9 / 31
AKOFS OFFSHORE OPERATIONS AS	Beaver	44	0	55 / 9
DOLPHIN DRILLING AS	Elephant	44	96	3 / 90
SEA1 OFFSHORE AS	Elephant	44	74	37 / 45
ALFA NORDIC SERVICES AS	Beaver	44	46	29 / 46
ARCHER AS	Elephant	43	57	36 / 39
AKER SOLUTIONS ASA	Beaver	43	36	40 / 32
NORTH SEA SHIPPING HOLDING AS	Beaver	42	47	30 / 34
ISLAND DRILLING MANAGEMENT AS	Elephant	41	51	16 / 51
NINE DOWNHOLE NORWAY AS	Beaver	41	21	44 / 24
INTELLISERV NORWAY AS	Elephant	41	55	68 / 88
APPLY AS	Beaver	40	42	51 / 36
GRAND CANYON OPERATION 2 AS	Beaver	40	19	35 / 21
SCORE AS	Beaver	40	26	–
MOHR AS	Elephant	40	81	17 / 81
ODFJELL TECHNOLOGY AS	Beaver	39	47	42 / 57
NORTH SEA OFFSHORE AS	Beaver	39	14	33 / 13
BEERENBERG SERVICES AS	Beaver	39	45	37 / 53
TENDEKA AS	Beaver	39	30	29 / 28
MYRHAUG MARINE AS	Elephant	39	64	52 / 59
HALLIBURTON AS	Elephant	38	72	30 / 74
ENIFLUX AS	Beaver	38	0	69 / 0
PETROJARL I PRODUCTION AS	Elephant	38	97	77 / 70
AKER SECURITY AS	Beaver	38	40	–
AKASTOR AS	Elephant	38	75	30 / 76
NAMTVEDT -SEALMAKER SERVICES AS	Beaver	37	0	9 / 0
PHRONTESEAS AS	Beaver	37	43	55 / 42
EQUINOR ASA	Elephant	37	74	40 / 76
AKER SOLUTIONS AS	Beaver	37	30	30 / 25
DNO NORGE AS	Beaver	37	37	67 / 10
ODFJELL INVEST II AS	Beaver	36	27	21 / 21
BOKA TOPAZ OPERATION AS	Elephant	36	72	34 / 91
SUPERIOR ENERGY SERVICES (NORWAY) AS	Elephant	36	54	73 / 70
WEST ASSET MANAGEMENT AS	Beaver	35	32	42 / 38
ALLSEAS NORWAY AS	Elephant	35	66	42 / 60
CONNECTOR SUBSEA SOLUTIONS AS	Beaver	34	35	45 / 66
KANFA AS	Beaver	34	39	47 / 48
SUPPLY CHAIN MANAGEMENT SERVICES AS	Elephant	33	61	24 / 65
IO ULSTEINVIK AS	Beaver	33	10	26 / 12
CABRAL AS	Beaver	33	20	–
ODFJELL INVEST AS	Elephant	32	68	33 / 57
DNO ASA	Elephant	32	58	13 / 55
INTERWELL AS	Beaver	32	24	39 / 22
ATLANTIC OFFSHORE ALPHA AS	Elephant	31	59	34 / 60
DEEP SEA DRILLING COMPANY AS	Beaver	31	25	29 / 24
RIG HERCULES CONTRACTOR AS	Beaver	31	12	–
SCAN TECH AS	Elephant	30	94	46 / 95
SAGA OFFSHORE PARTNERS AS	Beaver	30	49	24 / 47
THREE60 ENERGY NORWAY AS	Elephant	29	50	56 / 44
SONGA OFFSHORE RIG 3 AS	Beaver	29	0	13 / 0
NOV PROCESS & FLOW TECHNOLOGIES AS	Beaver	29	11	34 / 50
IKM GRUPPEN AS	Elephant	29	71	43 / 78
BILFINGER ISP OFFSHORE NORWAY AS	Elephant	28	98	24 / 100
CONNECTOR DEEPWATER SOLUTIONS AS	Beaver	28	10	–
SCANA ASA	Elephant	27	69	20 / 72
MOHN DRILLING AS	Beaver	27	37	74 / 41
WOOD GROUP NORWAY AS	Beaver	26	50	12 / 54
SUB AQUA TECHNOLOGY SAT AS	Elephant	26	95	–
BOSKALIS OFFSHORE AS	Elephant	25	51	21 / 46
HAVILA SUBSEA MANAGEMENT AS	Elephant	25	73	48 / 74
DEEP SEA DRILLING COMPANY I AS	Beaver	25	18	58 / 22
H&P MODU OPERATIONS AS	Beaver	25	4	17 / 18
SEA1 MARINE CREW AS	Beaver	25	10	39 / 8
PRA GROUP EUROPE PORTFOLIO AS	Elephant	24	98	21 / 98
TWMA NORGE AS	Beaver	24	0	17 / 0
WELLPARTNER AS	Elephant	24	75	72 / 82
SCHLUMBERGER NORGE AS	Beaver	24	20	28 / 40
DEEPOCEAN CORPORATE AS	Beaver	23	6	40 / 9
WEATHERFORD NORGE AS	Elephant	23	62	8 / 30
DEEP SEA RIG AS	Beaver	22	17	32 / 19
AKER SOLUTIONS HOLDING AS	Elephant	22	95	31 / 98
AVIUM SUBSEA AS	Beaver	22	0	17 / 0
REMOTION AS	Elephant	21	51	67 / 58
JANSEN OG WILLUMSEN SERVICES AS	Beaver	21	48	31 / 48
HØYDESIKRING ACCESS AS	Beaver	21	0	–
SUBSEAPARTNER AS	Beaver	21	35	69 / 38
REM SALTIRE INTERNATIONAL AS	Beaver	20	8	–
AKASTOR ASA	Elephant	20	93	36 / 93
WAVZ ENGINEERING SERVICES AS	Beaver	20	42	56 / 55
DNO IRAQ AS	Elephant	20	95	3 / 98
DNO TECHNICAL SERVICES AS	Elephant	20	54	20 / 58
NORTERMINAL RESPONSE AS	Beaver	19	0	7 / 0
NORAM DRILLING AS	Elephant	19	87	15 / 87
MARDAHL INDUSTRI AS	Beaver	19	0	33 / 10
NORTH SEA SHIPPING AS	Elephant	19	61	24 / 34
PSW TECHNOLOGY AS	Beaver	19	31	70 / 37
GENESIS ENERGIES NORWAY AS	Beaver	19	0	20 / 0
DEEP SEA MANAGEMENT AS	Beaver	18	10	14 / 2
NDT GLOBAL AS	Beaver	18	37	18 / 39
LINJEBYGG AS	Beaver	18	48	30 / 42
AKOFS 2 AS	Beaver	17	48	9 / 50
DEEP SEA MANAGEMENT INTERNATIONAL AS	Beaver	17	23	46 / 16
BISN NORWAY AS	Beaver	17	0	7 / 0
IOSOLUTIONS AS	Beaver	17	0	43 / 0
PETORO AS	Beaver	17	20	19 / 20
ISLAND OFFSHORE CREWING AS	Beaver	17	18	17 / 12
NORMAND DRIFT AS	Elephant	16	76	69 / 80
SAFETY LEADERS AS	Beaver	15	0	–
TDW OFFSHORE SERVICES AS	Elephant	15	59	83 / 65
ISLAND DRILLING CREWING AS	Beaver	15	4	19 / 5
ODFJELL WELL SERVICES AS	Beaver	14	12	14 / 8
EXPRO NORWAY AS	Beaver	14	0	9 / 0
NORDIC SUBSEA AS	Beaver	14	17	48 / 40
AKOFS NORWAY OPERATIONS AS	Elephant	14	57	47 / 46
ARCHER NORGE AS	Elephant	14	53	36 / 38
EQUINOR ARGENTINA AS	Beaver	13	50	3 / 94
ODFJELL OPERATIONS AS	Beaver	13	36	2 / 33
ODFJELL WELL SERVICES NORWAY AS	Beaver	13	16	41 / 15
EQUINOR ANGOLA AS	Elephant	13	86	5 / 99
IKM FLUID TREATMENT SOLUTIONS AS	Beaver	13	25	62 / 37
ÅLESUND SUBSEA AS	Beaver	13	0	11 / 0
HAVILA CHARTERING AS	Beaver	13	0	63 / 0
OLYMPIC DELTA AS	Beaver	12	41	67 / 54
WELL INTERCEPT AS	Beaver	12	34	55 / 28
HEYGAZ NORWAY AS	Elephant	11	71	–
SELNES GEOSCIENCE CONSULTING AS	Beaver	11	0	–
ISLAND OFFSHORE MANAGEMENT AS	Beaver	11	14	20 / 17
EQUINOR VENTURES AS	Elephant	11	97	9 / 100
CLAXTON ENGINEERING SERVICES AS	Beaver	11	0	12 / 0
PETRO WELL SERVICES AS	Beaver	10	15	7 / 0
BIRAL LUBRICANTS NORWAY AS	Beaver	10	12	53 / 43
ROV & DYKKER SERVICE AS	Elephant	10	57	9 / 81
HUNTING ENERGY SERVICES (NORWAY) AS	Elephant	10	91	18 / 52
PETROLINK SUPPORT AS	Beaver	9	19	–
WELLESLEY PETROLEUM AS	Elephant	8	56	–
OKEA ASA	Beaver	8	8	71 / 14
COSL OFFSHORE MANAGEMENT AS	Elephant	7	85	10 / 89
JAPEX NORGE AS	Elephant	7	89	1 / 71
NORTHERN OCEAN WIND AS	Beaver	7	0	–
FOURPHASE AS	Elephant	7	81	57 / 89
KISTOS ENERGY (NORWAY) AS	Beaver	5	5	36 / 0
LIME PETROLEUM AS	Beaver	5	0	36 / 0
CONCEDO AS	Beaver	5	11	4 / 26
EQUINOR LIBYA AS	Elephant	5	55	4 / 47
VESTERVIND CONTRACTORS AS	Beaver	4	37	–
TRANSOCEAN NORWAY OPERATIONS AS	Beaver	3	0	25 / 11
SLB KRISTIANSAND AS	Beaver	2	36	6 / 29
ISLAND DRILLING COMPANY AS	Beaver	1	0	3 / 0
REPSOL NORGE AS	Beaver	1	24	57 / 28
DOLPHIN DRILLING OFFSHORE AS	Beaver	0	41	2 / 63

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 5.7%. 89 of 595 companies have negative equity. The median equity ratio is 32.6%.

Companies with accounts595

Total revenue1,815,143 MNOK

Median operating margin5.7%

Median equity ratio32.6%

Share with a loss36%

Share with negative equity15%

All figures are for fiscal year 2025. Ranked: 320 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. Their revenue is converted at the mean rate for the accounting period and makes up 76% of the total.

Climbers and fallers

Change in rank from 2024 to 2025, for 293 companies ranked in both years.

Climbers

311EQUINOR REFINING NORWAY ASfrom rank 316 to 584
244SEA1 OFFSHORE REDERI ASfrom rank 246 to 285
231DOLPHIN DRILLING ASfrom rank 280 to 4968
227INEOS E&P (NORGE) PETROLEUM DK ASfrom rank 315 to 8861
219PANDION ENERGY ASfrom rank 263 to 4470

Fallers

188TDW OFFSHORE SERVICES ASfrom rank 67 to 25533
179OKEA ASAfrom rank 118 to 29722
178FOURPHASE ASfrom rank 54 to 23239
178MOHN DRILLING ASfrom rank 71 to 24934
176NORMAND DRIFT ASfrom rank 39 to 21541

Awards · 2025

Most profitableIK GROUP AS149.8%

Fastest growthCONCEDO AS7,517.9%

Strongest balance sheetJARALA AS99.9%

Largest revenueEQUINOR ASA706,144 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.

criticalTRANSOCEAN NORWAY OPERATIONS ASNegative equity · Current ratio below 1 (0.94) · Loss before tax
criticalSONGA OFFSHORE RIG 3 ASNegative equity · Current ratio below 1 (0.74) · Loss before tax
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
criticalISLAND DRILLING COMPANY ASNegative equity · Current ratio below 1 (0.10) · 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
criticalAVIUM SUBSEA ASNegative equity · Current ratio below 1 (0.03) · 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

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
SEA1 OFFSHORE REDERI AS	63.5%	65.3%	1,535 MNOK
HAVEN RIGCO AS	122.4%	97.3%	16 MNOK
LANGGÅRD AS	38.2%	96.2%	2 MNOK
EQUINOR REFINING NORWAY AS	76.2%	62.2%	5,796 MNOK
EQUINOR ENERGY LIBYA AS	90.9%	50.8%	370 MNOK
JEPSEN OFFSHORE AS	46.9%	96.3%	3 MNOK
EQUINOR MURZUQ AS	87.9%	57.5%	1,288 MNOK
SJØLIE OFFSHORE AS	77.3%	97.4%	3 MNOK
JARALA AS	43.6%	99.9%	2 MNOK
DELMAR SYSTEMS AS	20.9%	61.7%	390 MNOK
OLYMPIC SERVICES AS	98.3%	66.7%	71 MNOK
TECNOR AS	52.0%	74.7%	4 MNOK
ENHANCED DRILLING AS	31.7%	51.2%	993 MNOK
CINCLUS IV AS	89.2%	99.8%	5 MNOK
ICR INTEGRITY NORGE AS	20.8%	87.8%	42 MNOK
OMEGA SUBSEA AS	16.7%	61.6%	874 MNOK
NITROGAS AS	23.5%	85.5%	4 MNOK
NORTH SEA ENABLER AS	23.4%	93.2%	162 MNOK
FRANCON AS	58.7%	70.2%	3 MNOK
OLYMPIC ARTEMIS AS	79.7%	71.5%	146 MNOK
TE AKTIVA AS	45.1%	82.9%	3 MNOK
NORD AS	50.0%	95.6%	2 MNOK
OCEANEERING AS	15.4%	85.7%	2,158 MNOK
CEMIKO AS	31.1%	81.0%	2 MNOK
KJEL OG BRENNERSERVICE AS	24.8%	84.4%	1 MNOK
EQUINOR IN SALAH AS	72.8%	51.4%	5,057 MNOK
ONSITE TREATMENT SERVICES AS	9.7%	63.5%	112 MNOK
TCO NORWAY AS	29.3%	32.5%	601 MNOK
R.NEVLAND AS	28.7%	80.0%	3 MNOK
OLYMPIC OPERATION AS	9.7%	68.5%	255 MNOK
PROSIK AS	38.2%	42.8%	2 MNOK
RIG PARTNER PROJECT AS	16.1%	74.2%	4 MNOK
HAVILA SUBSEA AS	72.4%	47.3%	206 MNOK
WELL ID AS	38.2%	67.2%	61 MNOK
J PERCY AS	3.5%	70.6%	1 MNOK
REACH SUBSEA SHIPPING AS	14.0%	35.0%	1,038 MNOK
OLYMPIC ARES AS	76.8%	92.5%	131 MNOK
NYNAS AS	17.7%	89.2%	46 MNOK
E PLUG AS	32.2%	62.7%	297 MNOK
OLYMPIC HOLDING CHARTERING AS	5.5%	60.4%	775 MNOK
CAPTROL AS	121.8%	62.0%	4 MNOK
EQUINOR ANGOLA BLOCK 31 AS	69.3%	44.9%	1,233 MNOK
PANDION ENERGY AS	37.8%	41.8%	2,432 MNOK
NORTH SEA GIANT II AS	81.6%	53.6%	229 MNOK
TASTA DRILLING AS	44.8%	61.4%	6 MNOK
FORCE TECHNOLOGY NORWAY AS	10.1%	73.3%	241 MNOK
GM DEEPWATER CONSULTANCY AS	24.4%	76.8%	2 MNOK
DOLPHIN DRILLING AS	1.6%	99.5%	27 MNOK
EXPLONOR AS	75.4%	72.5%	3 MNOK
PETROMARIN HOLDING AS	−21.7%	96.0%	5 MNOK
OCEAN INSTALLER AS	23.2%	29.3%	4,113 MNOK
REM SALTIRE AS	72.8%	48.0%	147 MNOK
GC RIEBER SHIPPING AS	4.9%	87.1%	31 MNOK
EQUINOR IN AMENAS AS	42.5%	72.8%	2,116 MNOK
DOF SUBSEA NORWAY AS	11.4%	29.7%	2,791 MNOK
NYE FJELLBERG EIENDOM AS	43.3%	69.5%	1 MNOK
DNO YEMEN AS	95.0%	63.7%	195 MNOK
FC WELL INVEST AS	99.7%	99.9%	97 MNOK
WEST SUPPLY VII EIER AS	76.7%	66.5%	28 MNOK
NORTH SEA RIGS AS	14.5%	48.3%	72 MNOK
RPG NORGE AS	20.7%	76.7%	4 MNOK
INDEPENDENT OIL TOOLS AS	17.4%	66.4%	199 MNOK
EQUINOR ANGOLA BLOCK 15 AS	45.7%	50.6%	2,130 MNOK
TOOLSERV AS	6.0%	51.0%	118 MNOK
MOORE ENERGY AS	102.4%	49.0%	24 MNOK
DOLPHIN DRILLING OPERATIONS AS	3.2%	95.7%	26 MNOK
CONSTRUCTION SERVICES AS	14.2%	73.0%	10 MNOK
ALLSEAS NORWAY AS	2.5%	32.7%	1,325 MNOK
FLUID CONTROL SERVICE AS	14.0%	57.5%	168 MNOK
NORTH ATLANTIC AS	13.4%	88.7%	150 MNOK
IK SUBSEA AS	11.8%	36.0%	282 MNOK
INPEX IDEMITSU NORGE AS	38.0%	45.0%	5,716 MNOK
TECHDOF BRASIL AS	54.4%	38.4%	1,642 MNOK
DF GROUP AS	−58.2%	56.0%	6 MNOK
ODFJELL DRILLING AS	27.7%	27.6%	1,079 MNOK
HALLIBURTON AS	5.6%	36.5%	13,401 MNOK
JWS GRUPPEN AS	−0.2%	77.9%	14 MNOK
EIDESVIK REACH AS	33.1%	64.8%	137 MNOK
HAVILA HARMONY AS	138.5%	−127.1%	52 MNOK
FLOWPARTNER AS	2.8%	80.5%	28 MNOK
MOHR AS	1.7%	82.7%	3 MNOK
ASSET INTEGRITY AS	10.0%	56.6%	17 MNOK
EQUINOR ENERGY AS	67.4%	38.3%	386,771 MNOK
AKASTOR ASA	−780.0%	96.6%	5 MNOK
IKM AQUAMARINE AS	11.6%	49.7%	144 MNOK
NORTH SEA GIANT AS	8.2%	79.4%	410 MNOK
INEOS E&P (NORGE) PETROLEUM DK AS	133.7%	55.3%	80 MNOK
DF RENTAL AS	33.3%	39.3%	43 MNOK
ODFJELL INVEST AS	3.2%	34.9%	1,895 MNOK
GRAND CANYON OPERATION 3 AS	13.2%	28.3%	166 MNOK
DOF SUBSEA REDERI AS	44.3%	40.9%	2,369 MNOK
HARBOUR ENERGY NORGE AS	57.3%	21.9%	46,275 MNOK
BILFINGER ISP OFFSHORE NORWAY AS	6.7%	79.7%	2,363 MNOK
INTERWELL NORWAY AS	15.6%	49.9%	1,904 MNOK
SUBSEA 7 NORWAY AS	15.5%	25.3%	11,398 MNOK
SEA1 OFFSHORE CREW AS	3.0%	58.2%	112 MNOK
PRA GROUP EUROPE PORTFOLIO AS	−12.4%	99.8%	10 MNOK
OLYMPIC CHALLENGER AS	68.5%	55.9%	122 MNOK
DEEP CYGNUS OPERATION AS	5.4%	39.3%	144 MNOK
SEA1 OFFSHORE AS	0.5%	53.9%	183 MNOK
HAUKAAS CONSULTING AS	39.2%	75.8%	3 MNOK
RAMCO NORWAY AS	25.7%	23.1%	271 MNOK
IKM TESTING AS	10.5%	35.5%	1,935 MNOK
BOKA TOPAZ OPERATION AS	3.1%	53.1%	189 MNOK
SAIPEM NORGE AS	8.9%	41.9%	82 MNOK
OLYMPIC TAURUS AS	76.4%	52.0%	92 MNOK
APL NORWAY AS	13.8%	54.6%	873 MNOK
PETROJARL I PRODUCTION AS	18.7%	92.5%	141 MNOK
DEEPOCEAN GROUP HOLDING AS	2.7%	39.8%	428 MNOK
AKASTOR AS	−29.2%	75.7%	59 MNOK
IZOMAX AS	26.5%	45.7%	198 MNOK
COSL OFFSHORE MANAGEMENT AS	−1.9%	46.4%	5,220 MNOK
SCAN TECH AS	2.5%	82.7%	266 MNOK
MANGERUD AS	36.5%	20.7%	3 MNOK
WEST SUPPLY III AS	28.4%	76.8%	372 MNOK
SEA1 OFFSHORE MARITIME PERSONNEL AS	3.1%	47.1%	135 MNOK
BENGT ARE WÅGHEIM HOLDING AS	14.5%	28.3%	4 MNOK
PROPROC AS	50.7%	16.5%	3 MNOK
JAPEX NORGE AS	−17.1%	68.9%	269 MNOK
ROCKWOOD CONSULTING AS	36.0%	8.6%	3 MNOK
PSW SOLUTIONS AS	19.3%	21.7%	100 MNOK
HAVILA SUBCON AS	72.6%	−3.0%	117 MNOK
INTELLISERV NORWAY AS	7.4%	40.9%	186 MNOK
NORTH SEA SHIPPING AS	0.2%	46.0%	434 MNOK
JACKTEL AS	34.1%	47.1%	728 MNOK
NORPIPE OIL AS	38.1%	22.4%	297 MNOK
KAEFER ENERGY AS	6.9%	19.2%	3,511 MNOK
OLYMPIC OFFSHORE WIND AS	52.8%	30.7%	110 MNOK
KIMEK OFFSHORE AS	10.8%	18.4%	36 MNOK
SUPERIOR ENERGY SERVICES (NORWAY) AS	0.1%	53.0%	31 MNOK
SIEM OFFSHORE OPCO AS	8.7%	0.1%	214 MNOK
ATLANTIC OFFSHORE ALPHA AS	−0.7%	56.2%	49 MNOK
ALTERA INFRASTRUCTURE PRODUCTION AS	10.8%	24.1%	724 MNOK
CIMC OFFSHORE AS	25.8%	−13.5%	1,288 MNOK
BW OFFSHORE NORWAY AS	5.1%	29.6%	386 MNOK
ORLEN UPSTREAM NORWAY AS	44.0%	28.0%	28,457 MNOK
NORMAND SUPERIOR AS	68.8%	19.2%	96 MNOK
MYRHAUG MARINE AS	1.1%	63.9%	5 MNOK
KVENNA AS	9.4%	33.9%	108 MNOK
AXTECH AS	6.7%	32.4%	296 MNOK
AKER SOLUTIONS HOLDING AS	−2.7%	84.3%	203 MNOK
NOS RENTAL AS	21.0%	27.2%	50 MNOK
DNO ASA	−85.9%	42.6%	293 MNOK
INDUSTRIDYKK AS	5.8%	19.3%	20 MNOK
DOF SUBSEA REDERI III AS	38.6%	21.1%	228 MNOK
REM SUBSEA AS	55.1%	41.5%	175 MNOK
SUB SEA SERVICES AS	21.2%	31.3%	287 MNOK
RIG LINUS CONTRACTOR AS	11.9%	14.7%	943 MNOK
HAVILA SUBSEA MANAGEMENT AS	−7.7%	74.5%	39 MNOK
SUB AQUA TECHNOLOGY SAT AS	−24.7%	97.5%	1 MNOK
APPLY AS	2.4%	18.8%	5,019 MNOK
WOOD GROUP NORWAY AS	2.8%	23.1%	2,423 MNOK
A/S Norske Shell	81.2%	4.2%	25,249 MNOK
MORELD GROUP AS	−32.9%	63.2%	46 MNOK
DOF SUBSEA CHARTERING AS	7.7%	13.2%	1,232 MNOK
SAGA OFFSHORE PARTNERS AS	−1.4%	44.5%	11 MNOK
HUNTING ENERGY SERVICES (NORWAY) AS	−27.0%	96.1%	31 MNOK
DNO TECHNICAL SERVICES AS	0.0%	40.2%	247 MNOK
TIOS CREWING AS	1.8%	34.9%	72 MNOK
EQUINOR DEZASSETE AS	57.4%	16.7%	4,791 MNOK
ONESUBSEA AS	7.5%	14.6%	14,851 MNOK
SOLSTAD CONSTRUCTION AS	32.4%	51.6%	387 MNOK
VERTECH OFFSHORE AS	6.0%	33.9%	41 MNOK
HAVILA SUBSEA CREWING AS	15.8%	21.0%	2 MNOK
SCANWELL AS	10.9%	33.6%	43 MNOK
OLYMPIC ELECTRA AS	83.7%	−22.6%	57 MNOK
TRADE TECH AS	5.6%	16.8%	47 MNOK
EQUINOR ANGOLA BLOCK 17 AS	53.8%	17.3%	6,398 MNOK
OLYMPIC TRITON II AS	61.4%	35.7%	75 MNOK
DEEP C SOLUTIONS AS	3.2%	20.6%	79 MNOK
KANFA AS	1.9%	29.4%	503 MNOK
DNO IRAQ AS	3.0%	71.2%	2,195 MNOK
DEEPOCEAN AS	14.8%	14.1%	7,019 MNOK
NORTH SEA SHIPPING HOLDING AS	−1,762.0%	43.3%	2 MNOK
TENDEKA AS	4.0%	21.7%	808 MNOK
BOSKALIS OFFSHORE AS	1.7%	38.7%	236 MNOK
AKER BP ASA	43.5%	25.1%	113,711 MNOK
ISLAND DRILLING MANAGEMENT AS	1.6%	46.7%	50 MNOK
ARCHER OILTOOLS AS	15.9%	3.9%	1,339 MNOK
E INNOVATION NORGE AS	36.4%	5.0%	43 MNOK
SUPPLY CHAIN MANAGEMENT SERVICES AS	0.0%	59.5%	52 MNOK
TOTALENERGIES EP NORGE AS	66.2%	9.5%	61,500 MNOK
WEST SUPPLY VII DRIFT AS	3.5%	22.0%	39 MNOK
ODFJELL INVEST II AS	2.8%	12.9%	1,746 MNOK
EQUINOR VENTURES AS	−777.6%	99.8%	32 MNOK
DF PROPERTIES AS	99.9%	1.6%	7 MNOK
EQUINOR ASA	8.2%	37.9%	706,144 MNOK
NINE DOWNHOLE NORWAY AS	−1.2%	15.1%	98 MNOK
EQUINOR ANGOLA AS	−137.9%	88.8%	2 MNOK
IKM GRUPPEN AS	−44.5%	52.7%	102 MNOK
ARCHER VERTIKAL AS	3.4%	20.3%	388 MNOK
AKER SOLUTIONS AS	4.1%	13.4%	59,801 MNOK
OMV NORGE AS	52.1%	8.1%	16,747 MNOK
OLYMPIC CREWING AS	2.3%	7.6%	494 MNOK
NORTH SEA INFRASTRUCTURE AS	38.4%	16.6%	840 MNOK
ARCHER AS	5.5%	26.7%	4,217 MNOK
WEST ASSET MANAGEMENT AS	0.0%	23.4%	34 MNOK
THREE60 ENERGY NORWAY AS	1.0%	36.6%	654 MNOK
OLYMPIC CREW MANAGEMENT AS	2.6%	0.5%	102 MNOK
WELLTEC OILFIELD SERVICES (NORWAY) AS	4.6%	3.6%	857 MNOK
H&P DRILLING NORGE AS	5.2%	14.0%	2,200 MNOK
SAIPEM DRILLING NORWAY AS	24.4%	23.7%	2,312 MNOK
ALFA NORDIC SERVICES AS	1.3%	42.4%	22 MNOK
PERENCO VIETNAM AS	34.4%	41.1%	99 MNOK
ON & OFFSHORE SERVICES AS	4.5%	17.1%	188 MNOK
NORTH SEA OFFSHORE AS	0.3%	4.7%	85 MNOK
CABRAL AS	−0.2%	13.9%	1 MNOK
GRAND CANYON OPERATION 2 AS	2.9%	9.8%	172 MNOK
WELLPARTNER AS	−8.2%	74.8%	97 MNOK
WEATHERFORD NORGE AS	1.5%	28.6%	1,174 MNOK
PHRONTESEAS AS	−1.5%	38.8%	41 MNOK
CONOCOPHILLIPS SKANDINAVIA AS	47.4%	4.2%	39,871 MNOK
PETORO AS	−0.9%	12.8%	359 MNOK
NORMAND DRIFT AS	−5.8%	55.8%	348 MNOK
IK GROUP AS	149.8%	14.2%	1 MNOK
NORAM DRILLING AS	−622.7%	89.0%	1 MNOK
DEEP SEA DRILLING COMPANY AS	3.3%	11.9%	1,821 MNOK
SCANA ASA	−87.5%	71.2%	24 MNOK
VOLANTIS OPERATION AS	4.5%	−1.7%	112 MNOK
DIESEL CARE AS	12.5%	2.6%	7 MNOK
TRANSOCEAN BARENTS ASA	25.7%	15.4%	426 MNOK
WELLESLEY PETROLEUM AS	−5,957.7%	53.7%	3 MNOK
GHANA FPSO OPERATIONS AS	2.6%	3.0%	42 MNOK
AKOFS NORWAY OPERATIONS AS	−0.6%	41.5%	801 MNOK
OTECH MARINE SERVICES NORWAY AS	36.0%	7.8%	54 MNOK
HAVILA SERVICE AS	1.8%	−9.6%	70 MNOK
VÅR ENERGI ASA	51.7%	2.1%	84,127 MNOK
LINJEBYGG AS	1.6%	22.7%	1,206 MNOK
SOLSTAD SUPERIOR AS	12.8%	5.4%	191 MNOK
ODFJELL TECHNOLOGY AS	3.3%	34.0%	478 MNOK
FOURPHASE AS	−8.5%	60.4%	165 MNOK
WAVZ ENGINEERING SERVICES AS	−6.9%	37.8%	2 MNOK
JANSEN OG WILLUMSEN SERVICES AS	−6.8%	44.4%	59 MNOK
LOGE RESOURCES AS	2.3%	20.7%	2 MNOK
SEA1 MARINE CREW AS	0.8%	2.1%	196 MNOK
INTERWELL AS	−48.4%	18.7%	97 MNOK
AKER SECURITY AS	3.3%	29.6%	116 MNOK
NOV PROCESS & FLOW TECHNOLOGIES AS	4.8%	3.7%	3,979 MNOK
DEEP SEA RIG AS	2.8%	7.5%	1,795 MNOK
BABYSHOP SENGEMAGASINET AS	4.8%	−8.5%	7 MNOK
BEERENBERG SERVICES AS	7.2%	20.4%	2,011 MNOK
SCHLUMBERGER NORGE AS	7.9%	8.9%	13,012 MNOK
MACRO OFFSHORE OPERATIONS AS	2.7%	1.1%	26 MNOK
EQUINOR LIBYA AS	−160.9%	53.5%	13 MNOK
IKM SUBSEA AS	10.9%	16.3%	474 MNOK
VESTERVIND CONTRACTORS AS	−103.2%	32.2%	6 MNOK
IO ULSTEINVIK AS	−0.1%	1.8%	53 MNOK
MOHN DRILLING AS	−5.1%	28.3%	111 MNOK
ODFJELL OPERATIONS AS	0.9%	15.6%	1,209 MNOK
AKER SOLUTIONS ASA	−79.2%	31.0%	53 MNOK
ARCHER NORGE AS	−1.2%	24.8%	1,008 MNOK
SUBSEA INSULATION AS	0.8%	−69.5%	4 MNOK
AKOFS 2 AS	−32.3%	34.6%	162 MNOK
TDW OFFSHORE SERVICES AS	−0.4%	44.9%	156 MNOK
SCORE AS	7.6%	17.0%	279 MNOK
M VEST ENERGY AS	15.3%	−6.6%	726 MNOK
BISN NORWAY AS	−14.2%	−23.7%	21 MNOK
HEYGAZ NORWAY AS	−291.8%	72.9%	2 MNOK
AKOFS OFFSHORE OPERATIONS AS	11.7%	−33.4%	107 MNOK
OFFSHORE RESOURCE GROUP AS	24.3%	−19.7%	13 MNOK
REMOTION AS	−9.5%	47.4%	54 MNOK
HAVILA MARITIME DIS I AS	38.3%	0.0%	48 MNOK
ISLAND OFFSHORE CREWING AS	−0.1%	7.6%	297 MNOK
CONNECTOR SUBSEA SOLUTIONS AS	−0.9%	29.0%	86 MNOK
DEEP SEA MANAGEMENT AS	1.1%	3.5%	2,794 MNOK
TASIK TOBA SUBSEA AS	6.5%	−3.3%	97 MNOK
ROV & DYKKER SERVICE AS	−37.7%	54.4%	2 MNOK
DEEPOCEAN CORPORATE AS	1.1%	0.1%	141 MNOK
ENHANCED DRILLING INTERNATIONAL AS	10.0%	−1.1%	91 MNOK
DEEP SEA MANAGEMENT INTERNATIONAL AS	1.2%	15.6%	207 MNOK
SUBSEAPARTNER AS	0.8%	27.6%	142 MNOK
PSW TECHNOLOGY AS	−2.4%	21.8%	672 MNOK
PETROLIA NOCO AS	15.7%	0.1%	635 MNOK
ODFJELL WELL SERVICES AS	0.2%	2.7%	137 MNOK
ENIFLUX AS	1.3%	−7.4%	4 MNOK
NORDIC SUBSEA AS	−13.0%	12.1%	7 MNOK
DNO NORGE AS	17.9%	15.6%	4,516 MNOK
DOLPHIN DRILLING OFFSHORE AS	−142.7%	29.6%	284 MNOK
RIG HERCULES CONTRACTOR AS	2.4%	3.0%	287 MNOK
NAMTVEDT -SEALMAKER SERVICES AS	0.6%	−111.7%	7 MNOK
CONNECTOR DEEPWATER SOLUTIONS AS	−4.0%	2.6%	23 MNOK
REPSOL NORGE AS	−24.1%	10.6%	5,522 MNOK
TWMA NORGE AS	−5.1%	−15.1%	37 MNOK
H&P DRILLING OFFSHORE SERVICES AS	9.7%	−150.1%	476 MNOK
NDT GLOBAL AS	−30.2%	31.5%	90 MNOK
DEEP SEA DRILLING COMPANY I AS	−7.9%	13.4%	3 MNOK
ODFJELL WELL SERVICES NORWAY AS	−0.1%	6.2%	954 MNOK
SLB KRISTIANSAND AS	−34.4%	28.0%	518 MNOK
WELL INTERCEPT AS	−23.0%	28.2%	4 MNOK
H&P MODU OPERATIONS AS	2.6%	0.3%	1,465 MNOK
SONGA OFFSHORE RIG 3 AS	6.0%	−1.3%	3,570 MNOK
HAVILA CHARTERING AS	−0.8%	−119.3%	178 MNOK
ISLAND DRILLING CREWING AS	−0.1%	0.1%	160 MNOK
CONCEDO AS	−30.7%	2.3%	416 MNOK
PETRO WELL SERVICES AS	−578.6%	5.7%	3 MNOK
OKEA ASA	−4.3%	3.2%	8,397 MNOK
ISLAND OFFSHORE MANAGEMENT AS	−2.2%	5.3%	650 MNOK
IKM FLUID TREATMENT SOLUTIONS AS	−30.3%	19.0%	26 MNOK
OLYMPIC DELTA AS	−58.1%	37.1%	49 MNOK
PETROLINK SUPPORT AS	−47.4%	13.6%	1 MNOK
SELNES GEOSCIENCE CONSULTING AS	−11.6%	−241.5%	1 MNOK
NORTERMINAL RESPONSE AS	−7.0%	−2,616.8%	2 MNOK
EQUINOR ARGENTINA AS	−710.4%	45.9%	21 MNOK
EXPRO NORWAY AS	−16.1%	−57.8%	731 MNOK
ÅLESUND SUBSEA AS	−9.9%	−314.4%	2 MNOK
AVIUM SUBSEA AS	−22.0%	−17.5%	74 MNOK
KISTOS ENERGY (NORWAY) AS	−8.9%	1.4%	1,081 MNOK
REM SALTIRE INTERNATIONAL AS	0.4%	0.1%	218 MNOK
LIME PETROLEUM AS	−7.0%	−15.3%	2,984 MNOK
MARDAHL INDUSTRI AS	−9.5%	−11.7%	82 MNOK
IOSOLUTIONS AS	−6.0%	−730.8%	4 MNOK
BIRAL LUBRICANTS NORWAY AS	−30.2%	2.7%	2 MNOK
GENESIS ENERGIES NORWAY AS	−10.0%	−61.7%	19 MNOK
TRANSOCEAN NORWAY OPERATIONS AS	−8.2%	−3.6%	4,237 MNOK
HØYDESIKRING ACCESS AS	−2.4%	−39.4%	12 MNOK
NORTHERN OCEAN WIND AS	−1.5%	−2.3%	1,631 MNOK
SAFETY LEADERS AS	−8.0%	−37.6%	6 MNOK
CLAXTON ENGINEERING SERVICES AS	−44.3%	−37.8%	69 MNOK
ISLAND DRILLING COMPANY AS	−355.1%	−48.2%	173 MNOK

Scenario analysis: the sector's weakest year

The sector's weakest year was 2022, with a median operating margin of 1.6%.

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	1.6%	34.9%
2023	8.0%	28.8%
2024	6.8%	29.4%
2025	5.7%	32.6%
2026	–	–

In 2022, 6 ranked companies did better than the sector, 1 about the same and 5 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%

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

Drivers in the sector

Interest rates, prices and exchange rates that shape the sector's year, next to the sector's median operating margin. The drivers are context and are not part of the index.

Export price of crude oil (kr per fat)

Latest value: 1,069 (2026M09)

Export price of crude oil fell 17.6% in 2025; the sector's median operating margin fell 1.1 percentage points.

Export price of crude oil per year and the sector's median operating margin
Measure	2021	2022	2023	2024	2025	2026
Export price of crude oil, annual average	609	979	877	859	708	881 (so far)
Change from the year before	+61.1%	+60.8%	−10.5%	−2.0%	−17.6%	+24.5%
Sector's median operating margin	–	1.6%	8.0%	6.8%	5.7%	–

Source: SSB (08799, CC BY 4.0). Source · fetched 30 October 2026

Export price of natural gas (kr per Sm³)

Latest value: 8.96 (2026M09)

Export price of natural gas rose 5.7% in 2025; the sector's median operating margin fell 1.1 percentage points.

Export price of natural gas per year and the sector's median operating margin
Measure	2021	2022	2023	2024	2025	2026
Export price of natural gas, annual average	4.77	11.47	5.30	4.50	4.76	6.00 (so far)
Change from the year before	+361.0%	+140.3%	−53.8%	−15.2%	+5.7%	+26.2%
Sector's median operating margin	–	1.6%	8.0%	6.8%	5.7%	–

Source: SSB (08799, CC BY 4.0). Source · fetched 30 October 2026

USD/NOK (kr)

Latest value: 9.38 (2026-09)

USD/NOK fell 3.3% in 2025; the sector's median operating margin fell 1.1 percentage points.

USD/NOK per year and the sector's median operating margin
Measure	2021	2022	2023	2024	2025	2026
USD/NOK, annual average	8.59	9.61	10.56	10.75	10.39	9.55 (so far)
Change from the year before	−8.8%	+11.9%	+9.9%	+1.7%	−3.3%	−8.2%
Sector's median operating margin	–	1.6%	8.0%	6.8%	5.7%	–

Source: Norges Bank (EXR, NLOD 2.0). Source · fetched 30 October 2026

When export price of crude oil fell in 2025, 141 of 302 ranked companies kept their operating margin at or above the year before. Among the largest: VÅR ENERGI ASA (50.9% → 51.7%), A/S Norske Shell (79.4% → 81.2%), SCHLUMBERGER NORGE AS (6.9% → 7.9%), SUBSEA 7 NORWAY AS (9.5% → 15.5%), DEEPOCEAN AS (11.1% → 14.8%).

We show the drivers and the margin side by side and claim no cause. Sensitivity per company is not computed until we have at least 10 years of accounts per company: with three years such figures are false precision.

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

DK OFFSHORE AS 934925947 Voluntary liquidation · 27 October 2026 · 1 MNOK (2025)
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 · 0 MNOK (2025)
NORTH SEA COMMANDER SHIPPING AS 989594877 Voluntary liquidation · 24 April 2026 · 78 MNOK (2025)
FRAM ENERGY AS 974346427 Bankruptcy · 27 November 2025

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

Olje og gass: 320 ranked companies in fiscal year 2025.

Worth a closer look

Top lists in the sector · 2025

Highest revenue

Highest operating margin

Largest profit

Largest loss

Most solid

Fastest growth

Largest revenue decline

Biggest climbers

Biggest fallers

Most employees

Highest revenue per employee

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

Drivers in the sector

Export price of crude oil (kr per fat)

Export price of natural gas (kr per Sm³)

USD/NOK (kr)

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)