Norway’s Oil and Gas Investments Surge: Forecast and Future Prospects
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Statistics Norway has increased its forecast for Norway’s oil and gas investments in 2025 by 5.2
percent, totaling NOK 216 billion ($20.5 billion). This adjustment is attributed to higher growth
estimates for field development and exploration. The projection for 2025 suggests a nominal growth
of 19 percent compared to 2024. Production in the Hanz field and upcoming projects in the
Norwegian Barents Sea contribute to this growth. Despite optimism, concerns about future gas
exports to Europe post-2030 persist, prompting a focus on new gas discoveries and potential
expansions in export capacity. Additionally, the Norwegian Energy Ministry is encouraging
exploration in the Barents Sea, doubling production licenses offered in the region for APA 2024.