1. **Problem statement:** We are given the average daily oil production on the Norwegian continental shelf in 2023 as 1.794 million barrels, with 1 barrel approximately equal to 159 liters. We want to find: a) The total liters of oil produced in 2023. b) The value in Norwegian kroner of the oil produced in one day, given the average price per barrel and exchange rate. c) The price per liter of oil in Norwegian kroner. --- 2. **Formulas and important notes:** - To convert barrels to liters: $$\text{liters} = \text{barrels} \times 159$$ - To find total production in liters for the year: $$\text{total liters} = \text{daily barrels} \times 159 \times 365$$ - To find value in kroner for one day: $$\text{value per day} = \text{daily barrels} \times \text{price per barrel} \times \text{exchange rate}$$ - To find price per liter: $$\text{price per liter} = \frac{\text{price per barrel} \times \text{exchange rate}}{159}$$ --- 3. **Calculations:** **a) Total liters produced in 2023:** Given daily production = 1.794 million barrels = $1.794 \times 10^6$ barrels $$\text{total liters} = 1.794 \times 10^6 \times 159 \times 365$$ Calculate stepwise: $$1.794 \times 159 = 285.246$$ million liters per day $$285.246 \times 365 = 104,351.79$$ million liters per year So, $$\text{total liters} \approx 1.0435 \times 10^{11}$$ liters **b) Value in Norwegian kroner of oil produced in one day:** Let the average price per barrel be $P$ (in USD) and exchange rate be $E$ (NOK per USD). Then, $$\text{value per day} = 1.794 \times 10^6 \times P \times E$$ (You need to substitute the actual values of $P$ and $E$ to get the numeric answer.) **c) Price per liter in Norwegian kroner:** $$\text{price per liter} = \frac{P \times E}{159}$$ (Again, substitute $P$ and $E$ for numeric value.) --- 4. **Summary:** - Total liters produced in 2023 is approximately $$1.0435 \times 10^{11}$$ liters. - Value per day and price per liter depend on the given average price per barrel and exchange rate. Please provide the average price per barrel and exchange rate if you want numeric answers for parts b) and c).