High oil investments in both 1997 and 1998

Oil investments in 1997 and 1998 will be high according to the investment survey carried out in the second quarter, which estimates total oil investments in 1997 and 1998 at respectively NOK 57.5 billion and NOK 46.4 billion.

The first-hand estimate for 1998 is, however, NOK 13.4 billion higher than comparative 1997 estimates. The higher figure is mainly attributed to the high first-time estimates for exploration, field and pipeline development next year.

The estimate for overall oil investments in 1997 is NOK 9.6 billion higher in the second quarter census compared to similar figures for 1996. The new estimate for 1997 is the highest registered in the second quarter of the investment year since 1993. In 1993 overall oil investments reached their highest level so far, with NOK 57.6 billion.

Weekly Bulletin issue no. 23, 1997