Vast Ocean Resources: Assets and Liabilities

Over the last century Norway has acquired sovereign rights over vast sea areas and could today be labelled a great ocean state. The abundant natural resources, both in the sea and beneath the seabed, are essential for the national economy. This chapter examines how Norway has gained control over these aeras. The main, successful approach has been advocacy of a strong international rule-based order to dominate ocean activities. The chapter also discusses the challenges that come with this for a small state like Norway. Substantial resources are required to administer and secure the national rights, also vis-à-vis foreigners. Especially the sovereign rights to the waters around the Svalbard archipelago have been under pressure from foreign actors, such as Russia and the European Union. This can be seen as part of a new race for the Arctic due to melting polar ice caps, which also includes great powers like China and the US. Generally, in its ocean policy Norway have applied a number of measures to maximise its access to natural resources and thereby increase national wealth.