Oil and gas activities, investments, Q3 2009

The estimate for 2009 has been adjusted downwards at NOK 143.5 billion.

Estimates for 2010

Total investments in oil and gas activities for 2010, including pipeline transportation, are estimated at NOK 145.4 billion. This is an increase of NOK 9.4 billion compared with the previous quarter, and NOK 12.6 billion more than the investment estimate for 2009 given in the corresponding quarter of 2009.

The investments for exploration activity in 2010 are now estimated at NOK 22.9 billion. The estimate is the highest exploration estimate since Statistics Norway started collecting estimates in 1985 (measured in current prices). This is NOK 3.6 billion higher than the corresponding estimate for 2009. The estimate is NOK 1.7 billion higher than the estimation for 2010 given in the previous quarter.

Investments for field development and fields on stream are now estimated at NOK 102.3 billion. This is NOK 6.9 billion higher than the estimate given in the previous quarter and NOK 6.7 billion higher than the corresponding estimate for 2009.

Onshore activities and pipeline transportation are estimated at NOK 6.9 and 1.2 billion respectively.

Estimates for 2009

Total investments in oil and gas activities for 2009, including pipeline transportation, are estimated at NOK 143.5 billion. The estimate is NOK 14.7 billion higher than the corresponding estimate for 2008 and NOK 1.7 billion lower than the estimate given in the previous quarter.

Investments in the exploration activity in 2009 are now estimated at NOK 29.4 billion. The estimate is NOK 4.3 billion higher than the corresponding estimate for 2008, presented in the third quarter of 2008.

Investments for field development and fields on stream are now estimated at NOK 105.3 billion; a decrease of NOK 3.6 billion compared with the estimate in the previous quarter and NOK 8.4 billion higher than the corresponding estimate for 2008.

Onshore activities and pipeline transportation are estimated at NOK 4.8 and NOK 2.0 billion respectively.

Tables:

• Table 1 Accrued and estimated investment costs. Extraction of crude petroleum and natural gas and transport via pipelines. 2005-2010. NOK million
• Table 2 Accrued investment costs for oil and gas exploration, by cost category. Q2 2007-Q2 2009. NOK million
• Table 3 Accrued investment costs for field development and fields on stream. Q2 2007-Q2 2009. NOK million
• Table 4 Estimated and accrued investment costs for oil and gas extraction and pipeline transport. 1985-2010