114525_not-searchable
/en/energi-og-industri/statistikker/oljeinv/kvartal
114525
Higher investments in 2013 and 2014
statistikk
2013-06-18T10:00:00.000Z
Energy and manufacturing
en
oljeinv, Oil and gas activities, investments, petroleum activity, oil production, gas production, pipeline transport, exploration activity, field development, oil fields, gas fields, exploration costs, investment costsOil and gas , Energy and manufacturing
false

Oil and gas activities, investments, Q2 2013

Content

Published:

This is an archived release.

Go to latest release

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.

Estimated and accrued investment costs for oil and gas extraction and pipeline transport, by the point in time for the estimationPublished 18 June 2013
Investment costs (mill. NOK)
2011201220132014
Estimates made in May in the year before the investment year146 322143 180194 285208 223
Estimates made in August in the year before the investment year148 787171 958204 0450
Estimates made in November in the year before the investment year150 806184 591207 8150
Estimates made in February in the year of investments141 141186 044198 6780
Estimates made in May in the year of investments144 368186 654211 3030
Estimates made in August in the year of investments151 706184 94200
Estimates made in Novenber in the year of investments152 594180 60000
Accrued investment costs146 290172 46500

Source: Statistics Norway

Investments. Oil and gas activity. Estimates given on different points in time. NOK billion

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.

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.

2013

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.