Statoil’s article 10 plan

The state oil company was required to report regularly to the Storting (parliament) on its activities and project plans. That applied not least to the Statfjord development, which was an important part of Statoil’s operations during its early years.

Right-wing politicians were particularly keen on detailed follow-up and reporting. A political compromise led to a decision that Statoil would prepare an annual plan for its activities. This became known as the “article 10 plan”, after the number of the article in Statoil’s articles of association which incorporated the reporting requirement.

The Storting resolved on 12 June 1974 that the government would present a special annual White Paper specifying “the main features of Statoil’s plans and projects together with financial overviews and other issues involving an important principle or of political significance” based on this plan.

Sources:
Ministry of Industry. (1975). A. Virksomheten på den norske kontinentalsokkel ; B. Virksomheten til Den norske stats oljeselskap a.s. i 1974 og selskapets planer for virksomheten i 1975 ; C. Virksomheten til Statens oljedirektorat i 1973 og 1974 (Vol. Nr 81 (1974-75), St.meld. … (trykt utg.)). Oslo: Departementet.: 3 og 62.