Oil and gas activities, investments, Q3 2007

These two estimates are the highest estimates ever given, measured in current prices, since Statistics Norway started collecting estimates in 1985.

Estimates 2007

The total investment for 2007 is now estimated at NOK 117.5 billion. This is an increase of NOK 6.1 billion compared with the previous quarter. The estimate for 2007 is NOK 17.9 billion higher than the estimate for 2006 given in the 3rd quarter 2006. The increase for 2007 is due to higher investments in exploration, field development and fields on stream, while the estimate indicates a decrease in onshore activity and pipeline transportation.

The investment for exploration activity in 2007 is now estimated at NOK 22 billion. This is NOK 8.5 billion higher than the corresponding estimate for 2006. The estimate is NOK 2.9 billion lower than the estimate for 2007 given in the 2nd quarter 2007.

Investments in field development and fields on stream are now estimated at NOK 80.3 billion. This is an increase of NOK 8.3 billion compared with the previous quarter and NOK 17.8 billion higher than the corresponding estimate given for 2006.

Onshore activities and pipeline transportation are estimated at NOK 12.2 and NOK 3 billion respectively.

Estimates 2008

The total investment for 2007 is now estimated at NOK 119.2 billion. This is an increase of NOK 30.6 billion compared with the investment estimate for 2007 given in the 3rd quarter 2006. The increase for 2008 is due to higher investments in exploration, field development and fields on stream while the estimate indicates a decrease in onshore activity and pipeline transportation.

The investment for exploration activity in 2008 is now estimated at NOK 27.3 billion. This is NOK 7.7 billion higher than the estimate for 2007 given in the 3rd quarter 2006.

Investments in field development and fields on stream are now estimated at NOK 87.7 billion. This is NOK 29.3 billion higher than the corresponding estimate given for 2007.

Onshore activities and pipeline transportation are estimated at NOK 3.6 and NOK 0.6 billion respectively.

Tables:

• Table 1 Accrued and estimated investment costs. Extraction of crude petroleum and natural gas and transport via pipelines. 2003-2008. NOK million
• Table 2 Accrued investment costs for oil and gas exploration, by cost category. Q2 2005 - Q2 2007. Million NOK
• Table 3 Accrued investment costs for field development and fields on stream. Q2 2005 - Q2 2007. NOK million
• Table 4 Estimated and accrued investment costs for oil and gas extraction and pipeline transport. 1985-2008