High investments in oil and gas activity

The total investments in Norwegian oil and gas activity, including pipeline transportation, will be higher in 2012 than in 2011, and the growth is expected to continue in 2013.

According to new estimates for 2012 by Statistics Norway (SSB), the total investments in oil and gas activity, including pipeline transportation, are expected to amount to NOK 180.6 billion measured in current value.

The estimate is slightly lower than that given for 2012 in the previous quarter, but is 18.4 per cent higher than the corresponding result for 2011. The estimate for 2013 is adjusted upward to NOK 207.8 billion; 12.6 per cent higher than the corresponding estimate for 2012.

The increase for 2012 is due to higher investments in field development and fields on stream, while the estimate indicates a moderate decrease in exploration, onshore activity and pipeline transportation.

The estimated increase for 2013 is due to higher investments in exploration, field development and fields on stream.

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