1. **Stating the problem:** We are given that in 2023, the average daily oil production on the Norwegian continental shelf was 1.794 million barrels (fat), where 1 barrel ≈ 159 liters. We want to find: a) The approximate total liters of oil produced in 2023. b) The approximate value in Norwegian kroner of the oil produced in one day, given the average price per barrel and exchange rate. c) The approximate price per liter of oil in Norwegian kroner. 2. **Formulas and important rules:** - To convert barrels to liters: $$\text{liters} = \text{barrels} \times 159$$ - To find value in kroner: $$\text{value (kr)} = \text{barrels} \times \text{price per barrel (USD)} \times \text{exchange rate (kr/USD)}$$ - To find price per liter: $$\text{price per liter (kr)} = \frac{\text{value (kr)}}{\text{total liters}}$$ 3. **Calculations:** **a) Total liters produced:** $$1.794 \text{ million barrels} = 1,794,000 \text{ barrels}$$ $$\text{liters} = 1,794,000 \times 159 = 285,546,000 \text{ liters}$$ **b) Value in kroner per day:** $$\text{price per barrel} = 86.12 \text{ USD}$$ $$\text{exchange rate} = 11.40 \text{ kr/USD}$$ $$\text{value} = 1,794,000 \times 86.12 \times 11.40$$ Calculate stepwise: $$86.12 \times 11.40 = 981.768$$ $$1,794,000 \times 981.768 = 1,761,512,352 \text{ kr}$$ **c) Price per liter in kroner:** $$\text{price per liter} = \frac{1,761,512,352}{285,546,000} \approx 6.17 \text{ kr/liter}$$ 4. **Summary:** - a) Approximately 285,546,000 liters of oil were produced daily. - b) The daily value of oil production was approximately 1,761,512,352 kroner. - c) The price per liter of oil was approximately 6.17 kroner. This completes the solution with clear steps and explanations.