Foreign news on January 9, the Norwegian Petroleum Directorate (NPD) said on Monday that with the increase in production at the giant Johan Sverdrup oil field, Norway's oil production is expected to increase by 6.9% this year; natural gas production is expected to remain near record levels.

NPD forecasts show that production of Norwegian crude oil and other oil products such as condensate could rise to 2.02 million bpd in 2023 from 1.89 million bpd in 2022.

Norway has overtaken Russia as Europe's top supplier of gas since last year after Gazprom cut off most supplies to Europe.

Investment by oil and gas producers, including investment in exploration, is expected to rise to NOK 189 billion this year and peak at NOK 202 billion in 2025, up from NOK 172 billion in 2022, NPD said in a statement.

"This will help ensure that Norway continues to maintain its role as a reliable supplier of energy to Europe," said NPD chief Torgeir Stordal.

Total Norwegian oil and gas production is expected to rise to 4.12 million barrels (oil equivalent) per day in 2023, up from 3.99 million barrels per day (preliminary estimate) last year, NPD forecasts show.

The agency predicts that Norway's total oil and gas production will continue to grow in the coming years, reaching a 20-year high of 4.3 million barrels per day in 2025, slightly below the record level of 4.54 million barrels per day set in 2004.

In addition, NPD's forecast shows that Norway's natural gas production in 2023 is expected to be basically flat around the record level of 122 billion cubic meters per day (2.1 million barrels of oil equivalent per day), in line with the Norwegian government's recent forecast.

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