The Norwegian Oil and Gas Association (NOG) had previously predicted 2020 oil and gas investments would amount to 182.5 billion crowns. The increase was primarily driven by rising costs on some projects, it said.
Norway, Western Europe’s largest oil and gas producer, is expected to boost its full-year output in 2020 thanks to the startup two months ago of the Johan Sverdrup field in the North Sea.
The investment forecasts were based on a survey of 13 companies that operate oil and gas fields in Norway. ($1 = 9.1609 Norwegian crowns)
Follow us on twitter