Eriksen Calls for More Active Norwegian Owners Amidst Concerns Over Capital Flight
In a recent statement, Norwegian industrialist Øyvind Eriksen has voiced strong concerns regarding a perceived decline in active ownership within Norway, urging for a reversal of this trend. “It is a advancement that must be turned around.We need more, not fewer, active owners who choose to invest here at home,” Eriksen told E24 on Wednesday.He noted that Kjell Inge Røkke‘s family company, TRG, and the listed entity Aker, have maintained their Norwegian anchoring despite Røkke’s relocation.Eriksen highlighted Norway’s beneficial position in the energy sector, particularly in oil and gas, emphasizing the importance of predictable and stable framework conditions that have historically supported the industry.
Offshore Wind: A Missed Chance?
Turning his attention to electricity and renewable energy,Eriksen pointed to offshore wind development on the Norwegian continental shelf as a prime example of a lost opportunity for industrial growth. He contrasted Norway’s hesitant approach with Denmark’s success in establishing a world-leading position in the sector. “So far it looks like the train has gone for Norway. It is an example of a lost opportunity for industrial development, restructuring and employment in Norway,” Eriksen stated.
He referenced Røkke’s recent admission of feeling “stupid” and acknowledging defeat following a failed offshore wind venture. In response, Aker has withdrawn from offshore wind investments, with the exception of Aker Solutions’ role as a supplier to power companies.
When questioned about the potential for Aker BP‘s oil fields on the Norwegian continental shelf to relocate, Eriksen affirmed the notable investment involved. “Absolutely. In Aker BP, more than NOK 200 billion is invested in new field developments, in confidence that Norway’s position as an oil and gas producer will continue for many decades to come,” he concluded.
