Norwegian authorities said Wednesday they expected a slight increase in the nation's oil production, which has been dropping steadily since 2001.
Norwegian authorities said Wednesday they expected a slight increase in
the nation's oil production, which has been dropping steadily since 2001.
In 2014, national oil production should reach 1.47 million barrels per day.
According to the Norwegian Petroleum Directorate, the preliminary figure for
2013 was 1.46 million barrels, only half of the production peak reached in
2001.
Last year's figures fell short of the Petroleum Directorate's forecast by 0.6%,
and dropped 5% compared with 2012.
"Current expectations are for relatively stable oil production in the next
few years," the government agency said.
Natural gas sales, at 108.7 billion cubic meters, fell less than expected, with
a 5% drop, which came in at 0.6% above forecasts.
Oil investment is expected to remain high this year, at 176 billion kroner
($28.8 billion), reaching 180 billion in 2015, although the country's oil
industry employers' organization expects a drop next year.
In 2013, oil investments amounted to 173 billion kroner.
From 2015 the Petroleum Directorate expects investments to stay around 170
billion kroner per year until 2018.
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