Norway's oil and gas investment is expected to reach a historic high in 2025

【发表时间 2025-01-15 13:40:26】

Norway's oil and gas investment is expected to reach a historic high in 2025

Norwegian oil and gas industry agency Offshore recently stated that it expects Norwegian oil and gas companies to invest a record breaking 275 billion Norwegian kroner (approximately 177.8 billion yuan) in 2025, up from 263.7 billion Norwegian kroner in 2024.

At the end of 2024, Offshore expects Norwegian oil and gas companies to invest 240 billion Norwegian kroner in oil and gas in 2024 and 225.9 billion Norwegian kroner in 2025. The main factors predicting an increase in investment include rising costs, accelerated development of multiple oil fields, and increased drilling in existing oil and gas fields. 41 exploration wells will be drilled in Norwegian waters in 2024, with plans to drill 45 wells by 2025, setting a new record since 2019.

Norway is the largest oil and gas producer in Western Europe, with a daily production of over 4 million barrels of oil equivalent. Norway plans to continue expanding production in the coming decades. Offshore also expects that after the peak in 2025, Norwegian oil and gas investment will gradually decline, reaching 251 billion kroner in 2026 and 203 billion kroner in 2029.