natgillin/translations-raw huggingface dataset:
The Government Pension Fund Global – GPFG – was established in 1990, and the first transfer to the fund took place in 1996. 
The Government Pension Fund Global – GPFG – was established in 1990, and the first transfer to the fund took place in 1996.
Norges Bank Investment Management manages the fund on behalf of the Ministry of Finance. 
Norges Bank Investment Management manages the fund on behalf of the Ministry of Finance.
The Ministry of Finance owns the fund and provide the guidelines. 
The Ministry of Finance owns the fund and provide the guidelines.
The fund was set up to give the government room for manoeuvre in fiscal policy should oil prices drop or the mainland economy contract. 
The fund was set up to give the government room for manoeuvre in fiscal policy should oil prices drop or the mainland economy contract.
It also served as a tool to manage the financial challenges of an ageing population and an expected drop in petroleum revenue. 
It also served as a tool to manage the financial challenges of an ageing population and an expected drop in petroleum revenue.
The fund is an integrated part of the government’s annual fiscal budget. 
The fund is an integrated part of the government’s annual fiscal budget.
Its capital inflow consists of all government petroleum revenues. 
Its capital inflow consists of all government petroleum revenues.
The so-called spending rule implies that no more than 4 percent of the fund’s return shall over time be spent on the annual national budget. 
The so-called spending rule implies that no more than 4 percent of the fund’s return shall over time be spent on the annual national budget.
This rule was first established in 2001. 
This rule was first established in 2001.
The capital is invested abroad, to avoid overheating the Norwegian economy and to shield it from the effects of oil price fluctuations. 
The capital is invested abroad, to avoid overheating the Norwegian economy and to shield it from the effects of oil price fluctuations.
The fund holds 60 percent of its assets in equities, 35 percent to 40 percent in fixed income and as much as 5 percent in real estate. 
The fund holds 60 percent of its assets in equities, 35 percent to 40 percent in fixed income and as much as 5 percent in real estate.
In 2012, transfers to this fund totalled more than 47 billion US dollar (NOK 270 billion). 
In 2012, transfers to this fund totalled more than 47 billion US dollar (NOK 270 billion).
At the end of 2012, the fund was valued at 660 billion US dollar (NOK 3 816 billion). 
At the end of 2012, the fund was valued at 660 billion US dollar (NOK 3 816 billion).
This corresponds to more than 130 000 US dollar (NOK 750 00) for every Norwegian citizen. 
This corresponds to more than 130 000 US dollar (NOK 750 00) for every Norwegian citizen.
Pioneering achievements 
Pioneering achievements
In Norway the petroleum sector has also bred a large oil and gas supply and service industry. 
In Norway the petroleum sector has also bred a large oil and gas supply and service industry.
The industry has been a big success with sensational growth, and developed without people really noticing it. 
The industry has been a big success with sensational growth, and developed without people really noticing it.
According to the Norwegian company Rystad Energy, the global market share is close to 80 percent on drilling equipment and 50 percent on seismic and subsea equipment. 
According to the Norwegian company Rystad Energy, the global market share is close to 80 percent on drilling equipment and 50 percent on seismic and subsea equipment.
Not bad for a nation of 5 million people. 
Not bad for a nation of 5 million people.
We have 40 years of experience solving challenges on the Norwegian continental shelf. 
We have 40 years of experience solving challenges on the Norwegian continental shelf.
Exploration and exploitation have been demanding. 
Exploration and exploitation have been demanding.
Fields have often been in deep waters, or located in remote areas with no infrastructure in place. 
Fields have often been in deep waters, or located in remote areas with no infrastructure in place.
Technological development has been necessary to make fields economically viable, or possible to develop at all. 
Technological development has been necessary to make fields economically viable, or possible to develop at all.
And the history continues. 
And the history continues.
We are doing things we would not have dreamed of 20 years ago. 
We are doing things we would not have dreamed of 20 years ago.
Thanks to this work, Norwegian industry has developed cutting edge technology: Subsea production systems, subsea compression, and multiphase flow over long distances and in deep waters are some examples. 
Thanks to this work, Norwegian industry has developed cutting edge technology: Subsea production systems, subsea compression, and multiphase flow over long distances and in deep waters are some examples.
Fairly recent technological advances made the development of Snøhvit and Ormen Lange possible. 
Fairly recent technological advances made the development of Snøhvit and Ormen Lange possible.
The Snøhvit gas field in the Barents Sea was discovered in 1984 and the field would not have been profitable without a subsea solution and multiphase flow. 
The Snøhvit gas field in the Barents Sea was discovered in 1984 and the field would not have been profitable without a subsea solution and multiphase flow.
Another technology step forward is the Åsgard subsea compression project. 
Another technology step forward is the Åsgard subsea compression project.
The closer the compression is to the well, the higher the efficiency and production rates become. 
The closer the compression is to the well, the higher the efficiency and production rates become.
Other fields on the Norwegian continental shelf are planning technology tests and qualifications similar to those practised on Åsgard. 
Other fields on the Norwegian continental shelf are planning technology tests and qualifications similar to those practised on Åsgard.
The engagement and interaction between oil companies, industry and research institutions have been fundamental in finding solutions to technological challenges. 
The engagement and interaction between oil companies, industry and research institutions have been fundamental in finding solutions to technological challenges.
I am truly proud of the way these players have collaborated and are bringing world class technology and technological solutions to the market. 
I am truly proud of the way these players have collaborated and are bringing world class technology and technological solutions to the market.
The fact that we have multiple environments and competition between the actors are important. 
The fact that we have multiple environments and competition between the actors are important.
This is also reflected in the international success of Norwegian companies. 
This is also reflected in the international success of Norwegian companies.
We see that the Norwegian subsea industry is expanding on the global market, and we find examples in countries such as Australia, Angola and Brazil. 
We see that the Norwegian subsea industry is expanding on the global market, and we find examples in countries such as Australia, Angola and Brazil.
The Norwegian supply and service industry today 
The Norwegian supply and service industry today
The Norwegian supply and service industry has been a big success with sensational growth. 
The Norwegian supply and service industry has been a big success with sensational growth.
Today it is Norway’s most important industry after the sales of petroleum. 
Today it is Norway’s most important industry after the sales of petroleum.
The total turnover exceeds 60 billion USD (360 mrd. 
The total turnover exceeds 60 billion USD (360 mrd.
NOK). 
NOK).
A Parallel and Active Commitment 
A Parallel and Active Commitment
As mentioned, we have seen a drop in our oil production, and this is one of our main challenges. 
As mentioned, we have seen a drop in our oil production, and this is one of our main challenges.
Our strategy to enhance future production was presented in a White Paper in 2011. 
Our strategy to enhance future production was presented in a White Paper in 2011.
In Norway we have a broad consensus on how to manage the petroleum resources. 
In Norway we have a broad consensus on how to manage the petroleum resources.
The policy, the framework and the tax system have been stable and predictable for decades. 
The policy, the framework and the tax system have been stable and predictable for decades.
A steady activity level must be maintained in order to achieve the goal of long-term management and value creation from the petroleum resources. 
A steady activity level must be maintained in order to achieve the goal of long-term management and value creation from the petroleum resources.
This can best be facilitated through a parallel and active commitment in four areas: 
This can best be facilitated through a parallel and active commitment in four areas:
Increase recovery from existing fields. 
Increase recovery from existing fields.
A significant part of expected production over the next ten years will come from proven fields and discoveries. 
A significant part of expected production over the next ten years will come from proven fields and discoveries.
Measures to improve recovery on mature fields are urgent. 
Measures to improve recovery on mature fields are urgent.
We need to develop commercial discoveries . 
We need to develop commercial discoveries .
Many of the current discoveries are small. 
Many of the current discoveries are small.
They need to utilize existing infrastructure and must be developed quickly in order to be profitable. 
They need to utilize existing infrastructure and must be developed quickly in order to be profitable.
Most development candidates can be developed with a subsea template tied in to existing infrastructure. 
Most development candidates can be developed with a subsea template tied in to existing infrastructure.
We continue active exploration of opened acreage, both in mature and frontier areas. 
We continue active exploration of opened acreage, both in mature and frontier areas.
And we are implementing opening processes for the South-eastern parts of the Barents Sea and for the island of Jan Mayen, as mentioned. 
And we are implementing opening processes for the South-eastern parts of the Barents Sea and for the island of Jan Mayen, as mentioned.
Integrated Management Plans 
Integrated Management Plans
Let me give a couple of comments on our integrated management plans. 
Let me give a couple of comments on our integrated management plans.
We have integrated management plans for all the Norwegian seas, 3 in total. 
We have integrated management plans for all the Norwegian seas, 3 in total.
The integrated management plans provide a framework for the petroleum industry. 
The integrated management plans provide a framework for the petroleum industry.
The integrated management plans are presented as White Papers to the Parliament. 
The integrated management plans are presented as White Papers to the Parliament.
They are based on facts, and are updated every fourth year. 
They are based on facts, and are updated every fourth year.
These management plans are important, because they provide a basis for coexistence between industries, environment and management of natural resources. 
These management plans are important, because they provide a basis for coexistence between industries, environment and management of natural resources.
They provide a stabile framework for the petroleum industry. 
They provide a stabile framework for the petroleum industry.
And are therefore important to ensure predictability for the industry – one of the cornerstones of “the Norwegian model”. 
And are therefore important to ensure predictability for the industry – one of the cornerstones of “the Norwegian model”.
I believe one of the main successes of the Norwegian model has been a combination of national control of the resources and an open system inviting foreign companies to participate. 
I believe one of the main successes of the Norwegian model has been a combination of national control of the resources and an open system inviting foreign companies to participate.
The natural resources are used for the benefit of the Norwegian population in a long term perspective. 
The natural resources are used for the benefit of the Norwegian population in a long term perspective.
This is in turn important for the legitimacy of the entire industry. 
This is in turn important for the legitimacy of the entire industry.
Our system has generated enormous wealth for Norway and put us in a very comfortable financial situation. 
Our system has generated enormous wealth for Norway and put us in a very comfortable financial situation.
Through the spending rule – where all income from the petroleum go to the pension fund and only 4 percent of this fund is put into the national budget – we have avoided the “Dutch disease”. 
Through the spending rule – where all income from the petroleum go to the pension fund and only 4 percent of this fund is put into the national budget – we have avoided the “Dutch disease”.
This way, oil and gas resources do not become a curse for the nation, but on the contrary – a blessing. 
This way, oil and gas resources do not become a curse for the nation, but on the contrary – a blessing.
"The Norwegian Model" - powerpoint presentation 
"The Norwegian Model" - powerpoint presentation
Presenting the Norwegian petroleum model in Mexico 
Petroleumstilsynet
The Norwegian Model: Evolution, Performance and Benefits 
The Norwegian Model: Evolution, Performance and Benefits
The pipeline makes possible the export of gas to Sweden and Denmark, and lays the ground for industrial use of gas in the Grenland region on the East Coast. 
Røyret gjer det mogleg å eksportere gass til Sverige og Danmark, og legg til rette for industriell bruk av gass i Grenland.
-We are in an economic downturn, with concern for increasing unemployment. 
- Vi er i økonomiske nedgangstider, med uro for auka arbeidsløyse.
Skanled is important for employment and value creation in Norway. 
Skanled er viktig for sysselsetjing og verdiskaping i Noreg.
The Norwegian Government is following this project closely, says Mr. Terje Riis-Johansen, Minister of Petroleum and Energy. 
Regjeringa følgjer difor prosjektet tett, seier olje- og energiminister Terje Riis-Johansen.
-I am dedicated to the progress of Skanled. 
- Eg er oppteken av framdrifta i Skanled.
Skanled is important to lay the ground for industrial development in Norway and to increase the gas export capacity to Europe, says Mr. Riis-Johansen. 
Skanled er viktig for å leggje til rette for industriell utvikling i Noreg og å auke gasseksportkapasiteten til Europa, seier Riis-Johansen.
Skanled is a complicated project, and there are remaining challenges before the project can be realized. 
Skanled er eit komplisert prosjekt, og det er framleis utfordringar som står igjen før prosjektet kan bli realisert.
The project is now in a critical phase to accomplish the scheduled submission of the Plan for Installation and Operation on 1 April 2009. 
Prosjektet er inne i ein kritisk fase for å nå planen om innlevering av søknad om godkjenning av plan for anlegg og drift 1. april 2009.
Petoro will participate in the project on behalf of the States Direct Financial Interest (SDFI). 
Petoro deltek i prosjektet på vegne av Statens direkte økonomiske engasjement (SDØE).
The Norwegian State versus Statoil ASA – settlement under guarantee declaration – decision by Stavanger tingrett 
Staten mot Statoil ASA – oppgjør etter garantierklæring – domsavsigelse i Stavanger tingrett
Stavanger tingrett has today decided a case raised by the Norwegian State represented by the Ministry of Petroleum and Energy against Statoil ASA. 
Stavanger tingrett har i dag avsagt dom i sak anlagt av staten ved Olje- og energidepartementet mot Statoil ASA.
The State will now further study the decision. 
Staten vil nå studere dommen nærmere.
The arbitration was settled in January 2002. 
Voldgiftssaken ble hevet som forlikt i januar 2002.
The Norwegian welfare model - prosperous and sustainable? 
The Norwegian welfare model - prosperous and sustainable?
The seminar topic (Portugal's labour market – towards the Nordic Flexicurity model?) is of great relevance for all countries. 
The seminar topic (Portugal's labour market – towards the Nordic Flexicurity model?) is of great relevance for all countries.
Labour and human capital is our most valuable resource and main source of economic and personal welfare, said State secretary Roger Schjerva. 
Labour and human capital is our most valuable resource and main source of economic and personal welfare, said State secretary Roger Schjerva.
Ladies and gentlemen, good afternoon; 
Ladies and gentlemen, good afternoon;
Labour and human capital is our most valuable resource and main source of economic and personal welfare. 
Labour and human capital is our most valuable resource and main source of economic and personal welfare.
Many countries are facing a very challenging situation after the global financial crisis. 
Many countries are facing a very challenging situation after the global financial crisis.
Portugal is hit hard by the crises. 
Portugal is hit hard by the crises.
Understandably, the discussion is intense here currently. 
Understandably, the discussion is intense here currently.
I support all the good work that has been done and is going on from the people, the social partners, the Parliament and the government, to overcome the economic and social crises. 
I support all the good work that has been done and is going on from the people, the social partners, the Parliament and the government, to overcome the economic and social crises.
In Europe, the level of unemployment remains at very high levels and in some cases is still on an increasing path. 
In Europe, the level of unemployment remains at very high levels and in some cases is still on an increasing path.
In some countries close to half of the young people under the age of 26 are unemployed. 
In some countries close to half of the young people under the age of 26 are unemployed.
With severe budget constraints, many countries now have limited room for manoeuvre. 
With severe budget constraints, many countries now have limited room for manoeuvre.
The Nordic countries have performed quite well over the last 15-20 years, and shown capacity to adapt to external shocks even in the aftermath of the financial crisis. 
The Nordic countries have performed quite well over the last 15-20 years, and shown capacity to adapt to external shocks even in the aftermath of the financial crisis.
Our countries are characterized by high levels of income and employment, and low inequality. 
Our countries are characterized by high levels of income and employment, and low inequality.
I believe that the relatively favourable performance is in part due to our welfare model. 
I believe that the relatively favourable performance is in part due to our welfare model.
Let me suggest a few characteristics of the so called Norwegian model: 
Let me suggest a few characteristics of the so called Norwegian model:
comprehensive tax-financed welfare state with generous benefits and high quality public services 
comprehensive tax-financed welfare state with generous benefits and high quality public services
substantial public investments in human capital 
substantial public investments in human capital
sound macroeconomic policies 
sound macroeconomic policies
well organized employees and employers with highly coordinated wage formation 
well organized employees and employers with highly coordinated wage formation
active labour market policy and flexible labour market regulations 
active labour market policy and flexible labour market regulations
and finally; 
and finally;
exposed to competition, especially by openness to trade from abroad (open economy) 
exposed to competition, especially by openness to trade from abroad (open economy)
In the following I will elaborate on some of these characteristics; before what is the main challenges for this model and is the model exportable? 
In the following I will elaborate on some of these characteristics; before what is the main challenges for this model and is the model exportable?
Human capital is by far our most important national resource– not oil and gas 
Human capital is by far our most important national resource– not oil and gas
A hundred years ago, Norway was among the poorer countries of Europe. 
A hundred years ago, Norway was among the poorer countries of Europe.
By 1950 Norway had caught up with Western Europe. 
By 1950 Norway had caught up with Western Europe.
Today, Norway ranks among the richest countries in the world. 
Today, Norway ranks among the richest countries in the world.
GDP per capita is among the highest in the world. 
GDP per capita is among the highest in the world.
Large income from natural resources, such as hydroelectric power, fisheries and since the beginning of 1970-ties petroleum, explains part of the rapid economic growth. 
Large income from natural resources, such as hydroelectric power, fisheries and since the beginning of 1970-ties petroleum, explains part of the rapid economic growth.
As illustrated in the chart 4, labour is by far the largest component of our national wealth. 
As illustrated in the chart 4, labour is by far the largest component of our national wealth.
The value of our work today and in the future amounts to 85 percent of total national wealth according to the figures. 
The value of our work today and in the future amounts to 85 percent of total national wealth according to the figures.
Therefore, future growth and prosperity first and foremost depend upon our ability to develop and use our human capital. 
Therefore, future growth and prosperity first and foremost depend upon our ability to develop and use our human capital.
The main explanation to Norwegian wealth is to be found in the high productivity growth combined with high employment rates. 
The main explanation to Norwegian wealth is to be found in the high productivity growth combined with high employment rates.
How have we managed to combine economic security with high economic performance, including high labour market participation and low unemployment? 
How have we managed to combine economic security with high economic performance, including high labour market participation and low unemployment?
All Nordic countries have been successful in mobilising labour forces. 
All Nordic countries have been successful in mobilising labour forces.
In particular, the Nordic women have migrated into the labour market over the last 40 years. 
In particular, the Nordic women have migrated into the labour market over the last 40 years.
In Norway, female labour force participation increased from 50 per cent in the beginning of the 1970-ties to 76 per cent in 2011. 
In Norway, female labour force participation increased from 50 per cent in the beginning of the 1970-ties to 76 per cent in 2011.
On the other hand, measured by hours worked, the labour participation is not that high. 
On the other hand, measured by hours worked, the labour participation is not that high.
A high share of part-time work among women is one explanation. 
A high share of part-time work among women is one explanation.
Another explanation is a gradual lowering of the general working time. 
Another explanation is a gradual lowering of the general working time.
The higher GDP per capita that has materialised of the high productivity growth, has to some degree been used to lower hours worked. 
The higher GDP per capita that has materialised of the high productivity growth, has to some degree been used to lower hours worked.
As you can see on the slide (slide 7), there are some countries with higher birth rates than Norway, but except for Iceland, these countries have low labour market participation among women. 
As you can see on the slide (slide 7), there are some countries with higher birth rates than Norway, but except for Iceland, these countries have low labour market participation among women.