Spending on oil and gas extraction and pipeline transport will jump by 15% in 2024, compared with the 215 billion kroner spent a year earlier, Statistics Norway said on Tuesday. Spending in 2025 is forecast to be 216 billion kroner, the agency said.
Norway's rise to power: How one giant company became Europe's gas lifeline | Priscila Azevedo Rocha & Kari Lundgren businessmirror.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessmirror.com.ph Daily Mail and Mail on Sunday newspapers.
The higher estimate for 2024 offshore spending reflects greater investment in “fields on stream, field development and pipeline transportation,” the statistics office said. “Markedly higher” spending on field development contributed to a 22% increase in investment in 2023 compared with 2022.
Between 40 and 50 wells are expected to be completed, up from 34 last year, the Norwegian Offshore Directorate said Thursday. More than half of the 23 wildcat wells undertaken last year found hydrocarbons, it said.
Between 40 and 50 wells are expected to be completed, up from 34 last year, the Norwegian Offshore Directorate said Thursday. More than half of the 23 wildcat wells undertaken last year found hydrocarbons, it said.