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Weekly Bulletin issue no. 36, 1997 <sti>Stikktittel

Investment statistics. Oil activity, 3rd quarter 1997:

High level of investments in 1997 and 1988

In the investment survey conducted in the third quarter of this year total oil investments in 1998 are estimated at NOK 58.5 billion, an increase of NOK 15.5 billion compared to the same figures for 1997. The increase is mainly due to higher investments in offshore field development.
The estimate for 1997 is now NOK 66.2 billion. The increase of NOK 14.2 billion from corresponding estimates for last year is mainly because of higher investments for developing and operating offshore fields in addition to the fact that exploration activities have increased. 1997 promises to be a new record year for oil investments.

Field development and fields in operation

Investments in 1998 are estimated at NOK 30.6 billion, up fully NOK 8.4 billion from corresponding figures for 1997. The increase is mainly due to new fields that are to be developed. They include Troll Gass, Jotun and Oseberg Sør, which have now been included in the census for the first time. Investments in offshore field developments this year are now estimated at NOK 36.2 billion, an increase of NOK 7.5 billion compared to similar estimates for last year. Although it is common for investments to be adjusted downwards towards the end of the year, it appears that field development investments this year will reach the same level as in the record year of 1993 in which accumulated field development investments totalled NOK 35.2 billion.

New Statistics

Investment statistics. Oil activity, 3rd quarter 1997.
Statistics are published every quarter in the Weekly Bulletin of Statistics and the Official Statistics of Norway (NOS) Oil and Gas Activity. More information: Jørn Bugge, tel. +47 21 09 47 67, e-mail: jbu@ssb.no.

Weekly Bulletin issue no. 36, 1997