Norwegian oil and gas companies have raised their projected investments for 2026 and 2027 compared to estimates made three months ago, a quarterly statistics office (SSB) survey of industry players showed on Thursday.
Norway produces more than 4 million barrels of oil equivalent per day, almost equally divided between crude and natural gas, and the government aims to extend the life of its petroleum industry for decades to come.
The country's biggest business sector now expects to invest 266 billion Norwegian crowns ($28.64 billion) in 2026, up from 255 billion seen in February, SSB said.
In 2027, the oil and gas industry initially expects to invest 207 billion crowns, exceeding a previous forecast of 201 billion. Estimates for next year will typically rise in the coming months as more projects are sanctioned.
($1 = 9.2874 Norwegian crowns)
(Reuters - Reporting by Terje Solsvik, editing by Essi Lehto)