Final investments in oil and gas activity in 2012 - including pipeline transportation - were NOK 172.5 billion; 18 per cent higher than in 2011. The forecast for 2013 has been adjusted downwards to NOK 198.7 billion, according to Statistics Norway.
The estimate for 2013 is 7 per cent higher than the comparable estimate for 2012 and indicates a lower growth in 2013 than in the last year.
Total investments in oil and gas extraction and pipeline transport for 2012 were NOK 172.5 billion. This is NOK 8.1 billion lower than the estimate conducted in the survey last quarter, but an increase of NOK 26.2 billion compared with the final investments in 2011. The increase in 2012 is due to higher investments in fields on stream and field development, while the investments in exploration, onshore activity and pipeline transportation decreased.
The final investments for exploration activity in 2012 came to NOK 27.0 billion. Compared with the final investment figures in 2011, the 2012 investments were NOK 0.4 billion lower. Compared with the previous quarter, the final figures were NOK 0.9 billion lower.
Final investments in field development for 2012 came to NOK 52 billion. This is a NOK 14.5 billion increase compared with final figures for 2011. The fields with the highest development activity in 2012 were Goliat, Eldfisk II, Ekofisk South and Gudrun.
Fields on stream in 2012 came to NOK 89 billion; an increase of NOK 13.5 billion compared with the previous year. The producing fields with the highest investment activity in 2012 were Ekofisk, Troll and Valhall, according to Statistics Norway.
Onshore activity and pipeline transportation in 2012 came to NOK 4.1 and 0.3 billion respectively.
Total investments in oil and gas activities for 2013, including pipeline transportation, are now estimated at NOK 198.7 billion. The estimate is NOK 9.1 billion lower than the estimate given in the previous quarter and NOK 12.6 billion higher than the corresponding estimates for 2012 given in the 1st quarter of 2012.
The investments for exploration activity in 2013 are now estimated at NOK 32.8 billion. This is NOK 3.3 billion higher than the corresponding estimate for 2012. The estimate is NOK 4.2 billion lower than the estimation for 2013 given in the fourth quarter of 2012.
Investments for field development are now estimated at NOK 64 billion; an increase of NOK 0.2 billion compared with the estimate in the previous quarter. The estimate is NOK 10.8 billion higher than the corresponding estimate given for 2012.
Investments for fields on stream in 2013 are now estimated at NOK 96.2 billion. This is NOK 6.4 billion lower than the estimate given in the previous quarter and NOK 2.1 billion lower than the corresponding estimate given in the first quarter of 2012. The producing fields with the highest investment activity in 2013 are Troll, Ekofisk and Oseberg, Statistics Norway reports.
Onshore activities and pipeline transportation are estimated at NOK 4.6 and NOK 1.2 billion respectively.
(Press release)
Lundin Norge AS has announced the discovery of an oil discovery south of the Edvard Grieg field in the North Sea, after concluding the drilling of wildcat well 16/4-6 S.
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Norwegian energy provider Statoil has reported a first quarter 2013 net operating income of NOK 38.0 billion, compared to NOK 57.9 billion in the first quarter of 2012. Adjusted earnings were NOK 42.4 billion, compared to NOK 59.2 billion in the first quarter of 2012.
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The Norwegian Government has presented a proposal to open for petroleum activity in new areas in the south-eastern Barents Sea.
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The National Congress of Prime Minister Jens Stoltenberg's Labour Party has voted yes to do a study that examines the effects of potential oil drilling in the Lofoten-Vesterålen area in the north of Norway.
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Norwegian energy provider Statoil and partner Petoro have proven considerable additional resources in the Shetland Group/Lista Formation in the Gullfaks licence.
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Norwegian engineering firm Aker Solutions has entered a frame agreement with Petrobras to provide subsea equipment for the oil company's deepwater pre-salt field developments in Brazil.
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Norwegian energy provider Statoil and its partners have started production from the Vigdis North-East oil field located in the southern North Sea...
Aker Solutions has acquired Managed Pressure Operations International, Ltd. (MPO), a company that has successfully developed the next generation of continuous circulation, riser gas handling and managed pressure drilling systems.
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This week, Statoil and its partners began production from the Hyme oil field in the southern part of the Norwegian Sea. Hyme is the second of Statoil’s 12 so-called fast-track projects.
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Norwegian energy provider Statoil's fourth quarter 2012 net operating income was NOK 45.8 billion. Net operating income for the whole year was NOK 206.6 billion. (Photo: Statoil CEO Helge Lund)
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