Oil and Gas industry in Norway

The preparation of financial statements and tax returns for organisations involved in petroleum-based activities in Norway is complex, and requires extensive local knowledge.

TMF Norway has more than ten years’ experience providing specialised accounting and tax services to Norwegian and international companies that are setting up and exploring the Norwegian continental shelf (NCS).

The Norwegian Government offers generous tax benefits for companies exploring NCS when up to 78% of the investment can be refunded. However, the Norwegian Oil Taxation Office has detailed and complex reporting requirements. TMF Norway has high compliance standards and is one of very few organisations able to fulfil these requirements.

Our experts can help you with:

  • Establishment of systems and joint venture account structures
  • Establishment of internal routines and efficient IT systems that support your business
  • Joint venture accounting
  • Preparation of cash calls and billing statements
  • Accounting for the purchase and sale of licenses
  • Preparation of pro and contra statements
  • Tax compliance and tax calculations for both offshore and onshore taxes
  • Communication with the Oil Taxation Office
  • IFRS reporting.

Our experts have over 15 years’ experience, and are leading market professionals with specialist knowledge of NCS operator companies and the petroleum industry.

TMF Group acquired Accepta AS in 2013. By merging the local expertise of Accepta AS specialists with our extensive global reach, we offer you full range of services in Norway and in more than 80 countries worldwide.

Speak to our experts today

Get in touch to find out how our experts can help grow your business. If you need any more information, or simply wish to ask a question, feel free to get in touch.

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