Jekker ned årets oljeinvesteringer

In Norway, oil and gas investments are expected to decline slightly this year, according to figures released by the Statistics Center on Thursday. The annual investment in 2023 stands at 272.9 billion kroner, with a forecasted drop to 266 billion kroner in 2026. The reduction is mainly due to lower expectations for development and production phase investments.

The decrease in 2026 is attributed to reduced investments in operation and production phase projects. In 2027, the anticipated fall in investments is projected to reach 237 billion kroner. However, next year's investment estimates have been adjusted upwards by 9 billion kroner due to increased costs on certain projects, primarily to ensure timely project completion and to accommodate changes in exchange rates.

The Statistics Center explains that some of the cost increase is due to companies striving to activate projects as required and adjusting to currency fluctuations. As more projects reach completion, the projected investments may rise in subsequent years, particularly with upcoming projects like Aker BP's Yggdrasil and Valhall-PWP Fenris.

However, in the first half of 2023, fewer new projects were finalized, leading to a plateau and subsequent decline in construction investments in Q3. Despite this, the Statistics Center notes that high planned investments in importing and operational phase projects could moderate the total decline in investments in 2027.