Norway oil, gas investment to hit record in ’25

Norwegian oil and gas investments are set to hit a record 274.8 billion Norwegian crowns ($26.98 billion) in 2025 before declining in 2026 as major projects conclude, according to a Statistics Norway survey released on Thursday.

The updated 2025 forecast, up from 269.1 billion crowns in May and higher than last year’s 251.2 billion, reflects sustained activity in the country’s largest business sector. Preliminary figures for 2026 show planned investments dropping to 229.4 billion crowns, compared to the May estimate of 206.6 billion.

Statistics Norway attributed the expected decline mainly to reduced spending on field development.

Attribution: Reuters

Subediting: Y.Yasser