Total investments in oil and gas activity for 2027, including pipeline transportation, are estimated at NOK 227 billion, a 10% increase from the previous quarter’s estimate. The rise is driven by higher cost estimates in production drilling and field development, though exploration and concept studies show lower estimates. For 2026, investments are estimated at NOK 275 billion, up 3% from the prior estimate, primarily due to increased spending on fields on stream and exploration. However, 2027’s estimate is 0.9% lower than the 2026 estimate from the third quarter of 2025, reflecting reduced field development investments as major projects near completion. The 2027 estimate includes growth in fields on stream and shutdown activities, offsetting declines in exploration. Seasonally adjusted Q2 investments totaled NOK 69.2 billion, reflecting 0.9% growth compared to Q1. The annual 2026 forecast indicates a potential 10% increase in the second half of the year, driven by production drilling activity.
Source: Statistics Norway (Statistisk sentralbyrå).
Text/data reproduced from https://www.ssb.no/.
Licence: Creative Commons Attribution 4.0 International (CC BY‑4.0).
Licence link: https://creativecommons.org/licenses/by/4.0/
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