Norway found its first oil in 1967 with the discovery of the Balder oil field. However, the major breakthrough came in December 1969 when Phillips Petroleum discovered the Ekofisk oil field, one of the largest offshore oil fields ever found. This discovery marked the real beginning of Norway's petroleum era. Production from the Ekofisk field started on June 15, 1971. Before this, exploration began in the mid-1960s, with the first exploration well drilled in 1966 but found to be dry. The discovery of Ekofisk in 1969 was a pivotal moment for Norway's oil industry and economy.