Finance
Norway oil industry expects another year of record investment
Published by Global Banking & Finance Review®
Posted on February 13, 2025
1 min readLast updated: January 26, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on February 13, 2025
1 min readLast updated: January 26, 2026
Norway's oil and gas investments will surpass 2024 records, with 2025 forecasts at 253.8 billion crowns, driven by new projects and field investments.
By Nerijus Adomaitis
OSLO (Reuters) - Norwegian oil and gas investments this year will exceed the record levels of 2024, driven by a flurry of development projects, a national statistics office (SSB) industry survey showed on Thursday.
The country's biggest business sector forecast investment of 253.8 billion crowns ($22.61 billion) in 2025, up from 251.2 billion crowns last year. The previous estimate for 2025, made in November, was for 252.6 billion crowns.
The increase in the 2025 estimate was driven by plans to invest more in producing fields, new developments and onshore facilities, SSB said, and was partly offset by lower expected spending on exploration.
One company alone, Vaar Energi, Eni's Norwegian subsidiary, said on Tuesday it expected to approve about eight new projects for development this year.
An initial estimate for 2026 investments, also released on Thursday, stood at 197 billion crowns.
The projection is set to be revised on a quarterly basis and could rise as new projects are added and cost estimates are updated.
($1 = 11.2261 Norwegian crowns)
(Reporting by Nerijus Adomaitis; Editing by Terje Solsvik, Gwladys Fouche and David Goodman)
The article discusses Norway's oil and gas investment projections for 2025, expected to surpass previous records.
The forecast for 2025 is 253.8 billion crowns, driven by new projects and increased field investments.
Vaar Energi is Eni's Norwegian subsidiary, planning to approve eight new projects in 2025.
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