The oil for development iniative

11.09.2010

Oil for Development (OfD) was launched by the Norwegian government in September 2005.

OfD represents a thematic broadening of the petroleum sector development assistance that Norway has provided since the early 1980s by building on an integrated approach to good governance of the petroleum sector that centres on three themes:

  • Resource management
  • Revenue management
  • Environmental management

OfD aims to assist developing countries in their efforts to manage petroleum resources in a way that generates economic growth, promotes the welfare of the population in general and at the same time is environmentally sustainable.

Norway has been successful in translating oil in the ground to development for its people, and sharing these experiences constitutes a key component of OfD. Still, what has worked well in Norway will not necessarily work elsewhere and the policies chosen in a given country will always have to be adapted to the particular challenges this country faces.