90470_not-searchable
/en/energi-og-industri/statistikker/oljeinv/kvartal
90470
Strong growth in total investments
statistikk
2012-12-06T10:00:00.000Z
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, Q4 2012

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Strong growth in total investments

Total investments in oil and gas activity, including pipeline transportation, will be higher in 2012 than in 2011. The growth is expected to continue in 2013.

According to new estimates for 2012, the total investments in oil and gas activity, including pipeline transportation, are expected to amount to NOK 180.6 billion measured in current value. The estimate is slightly lower than that given for 2012 in the previous quarter, but is 18.4 per cent higher than the corresponding result for 2011. The estimate for 2013 is adjusted upward to NOK 207.8 billion; 12.6 per cent higher than the corresponding estimate for 2012.

Investments. Oil and gas activity

Estimates for 2012

The estimate for 2012 is NOK 28 billion higher than the corresponding estimate for 2011. The increase for 2012 is due to higher investments in field development and fields on stream, while the estimate indicates a moderate decrease in exploration, onshore activity and pipeline transportation. (See table 1.)

The investments estimate for 2012 is NOK 4.3 billion lower than the estimate given in the previous quarter.

Accrued and estimated investments. Extraction of crude petroleum and natural gas and transport via pipelines. NOK billion
  Accrued and estimated 2011,
collected in Q4 2011 		Accrued and estimated 2012,
collected in Q4 2012 		Accrued and estimated 2012,
collected in Q3 2011
Total  152.6  180.6  184.9
Exploration and concept studies 29.2 27.9 29.2
Field development 39.7 53.6 55.1
Fields on stream 77.2 94.3 95.5
Onshore activities 6.1 4.4 4.7
Transport via pipelines 0.4 0.3 0.4

Optimistic estimates for 4th quarter

The accrued investments in the first three quarters in 2012 summed up to NOK 124.8 billion. This corresponds to a quarterly average of NOK 41.6 billion. Realisation of the current estimate for 2012 assumes investments of NOK 55.8 billion in the 4th quarter. There is reason to believe that some of the investments planned for the 4th quarter might be postponed to 2013.

Estimates for 2013

Total investments in oil and gas activities for 2013, including pipeline transportation, are estimated at NOK 207.8 billion. The estimate is NOK 3.8 billion higher than the estimate given in the previous quarter. The estimate is NOK 23.2 billion higher than the corresponding estimate for 2012. The increase for 2013 is due to higher investments in exploration, field development and fields on stream. (See table 2.)

Estimated investments. Extraction of crude petroleum and natural gas and transport via pipelines. NOK billion
  Estimated 2012,
collected in Q4 2011 		Estimated 2013,
collected in Q4 2012 		Estimated 2013,
collected in Q3 2012
Total  184.6  207.8  204.0
Exploration and concept studies 32.4 37.0 40.7
Field development 51.0 63.8 62.1
Fields on stream 96.4  102.5 96.9
Onshore activities 4.4 4.0 3.9
Transport via pipelines 0.4 0.5 0.5

The information in the survey was collected from the operators on the Norwegian Shelf in mid November.

Tables: