Higher investments in 2013 and 2014
Total investments in oil and gas activity in 2014, including pipeline transportation, are NOK 208.2 billion in the preliminary estimate. The estimate for 2013 increases by NOK 12.6 billion to NOK 211.3 billion.
|Investment costs (mill. NOK)|
|Estimates made in May in the year before the investment year||146 322||143 180||194 285||208 223|
|Estimates made in August in the year before the investment year||148 787||171 958||204 045||0|
|Estimates made in November in the year before the investment year||150 806||184 591||207 815||0|
|Estimates made in February in the year of investments||141 141||186 044||198 678||0|
|Estimates made in May in the year of investments||144 368||186 654||211 303||0|
|Estimates made in August in the year of investments||151 706||184 942||0||0|
|Estimates made in Novenber in the year of investments||152 594||180 600||0||0|
|Accrued investment costs||146 290||172 465||0||0|
The estimate for 2013 is NOK 24.6 billion higher than the corresponding estimate for 2012, given in the 2nd quarter of 2012. The estimate for 2014 is NOK 13.9 billion higher than the corresponding estimate for 2013, given in the 2nd quarter of 2012. This indicates a strong increase in the investments in 2013 and a more moderate increase in 2014.
The total investment for 2014 is estimated at NOK 208.2 billion. This is NOK 13.9 billion higher than the corresponding estimate for 2013. The increase is due to higher estimates on field development, fields on stream, pipeline transportation and onshore activity, while the estimates indicate a decreased investment in exploration.
Investments for field development and fields on stream in 2014 are estimated at NOK 165.2 billion. This is NOK 10.6 billion higher than the corresponding estimate given for 2013. Three development projects have been added in the survey since the previous quarter. These are Ivar Aasen, Aasta Hansteen and Gina Krog.
Onshore activities and pipeline transportation are estimated at NOK 6.6 and 5.6 billion respectively. Both of these figures represent a strong increase compared to the corresponding estimates given for 2013. The investments for exploration activity in 2014 are now estimated at NOK 30.9 billion. The estimate is NOK 4.5 billion lower than the estimation for 2013 given in the 2nd quarter of 2012.
Total investments in oil and gas activities for 2013, including pipeline transportation, are now estimated at NOK 211.3 billion. The estimate is NOK 12.6 billion higher than the estimate given in the previous quarter.
The estimate for 2013 is NOK 24.6 billion higher than the corresponding estimate for 2012, given in the 2nd quarter of 2012. The increase indicates higher investments in all investment areas except onshore activity, which seems to retain the same investment level as in 2012.
The accrued investments came to NOK 44.9 billion in the 1st quarter. Realisation of the current estimate for 2013 assumes an average quarterly investment level above NOK 55 billion. The drilling activity seen in April and May does not indicate a sharp increase in investment activity in the 2nd quarter. There is, therefore, reason to believe that some of the investments planned for 2013 might be postponed until 2014.