Norwegian Petroleum Directorate: Revenues from the Norwegian continental shelf are at a record high

Johan Sverdrup oil fieldPhoto: Carina Johansen / NTB
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The Norwegian state’s revenues from petroleum are at a historically high level, largely as a result of record-high gas prices. The Norwegian Petroleum Directorate expects high and stable production in the coming years.

Many new discoveries and the development of new fields in the coming years will contribute to increased production towards 2024, director Ingrid Sølvberg stated in a press release on Thursday.

Oil and gas from 94 fields, high demand, and high raw material prices contributed to the historically high income level, according to the Petroleum Directorate.

Last year’s production amounted to 102 million standard cubic meters of oil, corresponding to 642 million barrels. In addition, 113 billion standard cubic meters of gas were produced. That corresponds to around four million barrels of oil equivalents per day, which is a small increase from the previous year.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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