History of Norway company by 1985, just to go bankrupt by 1993. Unemployment reached record-high levels in the early 1990s. By 1990 Norway was Europe's largest oil producer and by 1995 it was the world's second-largest oil exporter. Membership in the European Union was rejected in a 1994 referendum, with Norway instead joining the European Economic Area and later also the Schengen Area. Large public investments in the 1990s were a new National Hospital and Oslo Airport, Gardermoen—connected to the capital with Norway's first high-speed railway, the Gardermoen Line. A number of large government companies, such as Statoil, Telenor and Kongsberg were privatized.
Geology of Norway is interpreted to be a precursor to the break-up of the North Atlantic. Little is known of the then elevation of what would be the area of current day Norway. Geology of Norway The geology of Norway encompasses the history of earth that can be interpreted by rock types found in Norway, and the associated sedimentological history of soils and rock types. The Norwegian mountains were formed around 400 million years ago (Ma) during the Caledonian orogeny. Rocks of Archean age in Norway are confined to a few 10 km-scale areas within younger metamorphic belts exposed on islands off the