Norway's oil output is expected to rise by 6.9% this year as the huge Johan Sverdrup field ramps up production while gas volumes are predicted to remain unchanged near record highs, the Norwegian Petroleum Directorate (NPD) said on Monday.
Investment by oil and gas producers, including for exploration, is expected to rise to 189 billion Norwegian crowns this year and peak at 202 billion crowns in 2025, up from 172 billion crowns in 2022, the NPD said in a statement.
"This will help to ensure that Norway can continue to be a reliable supplier of energy to Europe," said NPD Director General Torgeir Stordal. The combined volume of oil and gas is expected to rise to 4.12 million barrels of oil equivalent per day in 2023, up from a preliminary 3.99 million boed last year, the NPD's forecasts show.
Overall Norwegian output is forecast to continue to rise in the coming years, hitting a two-decade high of 4.3 million boed in 2025, just shy of a record 4.54 million barrels produced in 2004, the NPD predicted. The country's gas output is expected to stay virtually unchanged in 2023 at 122 billion cubic metres , or 2.1 million barrels of oil equivalent per day, the NPD said, in line with a recent government projection.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
I caught a fish with ‘trout pout’ — people say it looks like the KardashiansRoman Fedortsov, from Russia, said he caught the bizarre sea creature while on his commercial fishing boat in the Norwegian and Barents seas.
Les mer »
Gold Prices Expected to Soar in 2023: Experts Predict Record Highs for Precious Metal – Bitcoin NewsGold is on the rise in 2023 and in the first week of the new year alone, the precious metal has jumped 2.36% against the U.S. dollar. Economics Inflation
Les mer »
Abnormally high temperatures forecast for San Antonio area this weekHighs will creep into the lower 80s in the San Antonio area this week, bringing abnormally...
Les mer »
BTC price 3-week highs greet US CPI — 5 things to know in Bitcoin this weekBitcoin meets the first CPI print of 2023 with a BTC price charge above $17,000.
Les mer »
Warmer weather for Sunday across the Front RangeAfternoon highs will reach the low 40s this afternoon- with clear skies into the evening. Highs on Sunday will be warmer in the upper 40s.
Les mer »