SunSirs: Significant Increase in Expenditure on Offshore Oil and Gas Activities in Norway in 2024
February 19 2024 14:01:52 SunSirs (Selena)
According to foreign news on February 15th, the Norwegian Bureau of Statistics announced on Thursday that the total investment in offshore oil and gas activities (including pipeline transportation) in the country is expected to reach 23 billion US dollars (244 billion Norwegian kroner) this year, an increase of 5% compared to the previous quarter's estimate. The latest forecast shows that compared to 2023, the total investment in these industries in Norway will increase by about 30% this year.
The data shows that in 2023, Norway's total investment in oil and gas extraction and pipeline transportation was 20.3 billion US dollars (215 billion kroner), an increase of 22% compared to 2022.
Stale Meland, Senior Advisor at the Norwegian Bureau of Statistics, said, "The main reason for large-scale investment in the oil and gas industry is the significant increase in investment in oilfield development, which increased by 52% in 2023 compared to 2022."
Norway hopes to maintain production and increase exports to other regions of Europe, and oil and gas companies plan to strengthen their offshore exploration activities and expenditures this year.
Norway is the largest oil and gas producer in Western Europe.
This year, there will be an increase in oil and gas exploration activities in the country, with operators planning to extract 40-50 exploration wells, compared to 34 exploration wells to be extracted in 2023.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
- 2024-04-26 SunSirs: Oil Exports from Ports in Western Russia are Expected to Decrease by 1 Million Tons Month on Month in May
- 2024-04-26 SunSirs: Daily Report of China Commodity Data (April 26, 2024)
- 2024-04-25 SunSirs: China Domestic SC Crude Oil Futures Rose on April 24
- 2024-04-19 SunSirs: US Crude Oil Inventories have Surged, Reducing Conflict Risks and Causing Crude Oil to Plummet by Over 3%
- 2024-04-11 SunSirs: US Energy Information Agency: US Crude Oil Inventories Increased beyond Expectations Last Week
