Sharp decrease in exploration estimate for 2016

Estimates for total investments covering oil and gas, manufacturing, mining & quarrying and electricity supply now show a decline for 2016.

The downturn is mainly due to significantly lower estimates in the category exploration, within oil and gas extraction. 

New figures for 2015 show that total investments covering oil and gas, manufacturing, mining & quarrying and electricity supply are expected to amount to NOK 237.4 billion measured in current value. The estimate is 9.4 per cent lower than the corresponding figure for 2014. The decline is mainly due to a significant fall of 11.8 per cent within oil and gas.

The decrease is, however, somewhat subdued by an investment increase in electricity supply (up 7.7 per cent), while manufacturing investments are more or less unchanged.

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Source SSB

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