GEO-3120 Management of Petroleum Resources

The course is aimed at Master’s students in petroleum related studies or with an interest in petroleum related issues.  The course will teach about the Norwegian model for management of oil & gas revenues, give students a comprehension of the Norwegian petroleum resources in a national and international perspective, and insights in the discussions about the future of Norwegian petroleum resources in the High North.

The course will be taught by experts from the Norwegian Petroleum Directorate, and is highly recommended for those with direct and indirect connections to the petroleum sector through studies or interests.

When: The autumn semester 2016
Duration: Session-based, a total of 60 hours of lectures and exercises
Start date: To be announced
Venue: UiT, campus Tromsø
Assessment: Two home-assessments (40%) and a home exam (60%)
Credits: 10 ECTS

Apply here.

Applicants from Nordic countries  must apply by 1 June 2016. UiT students must follow internal deadlines to register for the course.

Course contents:

Norway is one of the few countries globally that has managed its natural resources, especially oil & gas, to the common best for the Nation and future generations. The Norwegian Model will be discussed, and especially the relationship between the private / company interests and the State`s interest in oil and gas activities is elaborated. The candidate is to be able to know the fiscal frames for oil & gas in Norway, and this industry`s role for the Norwegian economy. Energy systems related to oil & gas, and this compared to other types of energy carriers, is discussed. The course views the Norwegian petroleum resources in a national but also international and especially Arctic framework. Arctic operations is commented in a both historic and potential future perspective.

Objectives of the course:


The student can:

  • Understand the Norwegian Model for the management of oil & gas revenues, and to compare this model to other national models globally
  • Understand the principles and behind petroleum resource classification systems and relate this to stages of resource developments and potential value


The student can:

  • Separate and define the different roles that the authorities, the directorates, the operators and the suppliers in the exploration, exploitation and management of oil & gas resources
  • Define, understand and discuss the term “Economic rent”
  • Understand the difference between energy and energy carriers, and describe individual energy carrier trends


The student can:

  • Discuss and analyze the link between developments of society and energy consumption
  • Discuss Arctic industry in an environmental, development and political context

Full course description and information on application procedures.