The oil industry is expecting a fall in investments on the Norwegian continental shelf after 2020

oil industry climateOil industry.Photo: pixabay.com

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Norwegian oil and gas estimates that investments on the Norwegian continental shelf will increase by 3.8 percent in 2020, but then fall significantly from 2021.

The latest figures from Statistics Norway (Statistics Norway) show investments on the Norwegian shelf of NOK 182.9 billion in 2019.

The Norwegian oil and gas trade organization now estimates that the figure will increase by 3.8 percent in 2020, measured at fixed prices. The main reason is increased cost estimates for some projects.

It is the development of Johan Sverdrup that is the largest project on the Norwegian continental shelf right now. But after Johan Sverdrup, few major developments are waiting.

Investments are therefore expected to fall “significantly” after 2020. The fall in 2021 is estimated at as much as 12.3 percent.

© NTB Scanpix / #Norway Today

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