Record $26.62 Billion Investment Planned for Norway’s Oil and Gas Industry
The volume of capital investment in Norway’s oil and gas sector could reach a historic high this year, according to a study published on Tuesday by the Norwegian Statistics Agency, as reported by Reuters. The country’s key economic sector is expected to invest 269.1 billion Norwegian kroner ($26.62 billion) in 2025, which is 15.3 billion kroner morethan the forecast made in February and 17.9 billion kroner higher than the actual figure for 2024 (251.2 billion kroner), according to the updated statistics.
Forecasts for 2026 have also been revised: preliminary investments are now estimated at 206.6 billion kroner ($20.44 billion), up from 197.1 billion kroner in the previous forecast. The gradual increase in projected figures is attributed to the traditional revision of company budgets in preparation for the new financial cycle.
According to Oil and Capital (Neft i Kapital), this “budget adjustment” does not provide a clear answer as to whether the increase in investment is driven by sector inflation or plans to expand production. It is worth noting that the Norwegian Offshore Directorate, the country’s offshore production regulator, previously forecast that without intensifying current operations and discovering new fields, Norwegian oil production will peak this year and then begin to decline.
