The investment survey conducted during the second quarter within oil and gas, manufacturing, mining and quarrying and electricity supply in 2024 amounted to NOK 328 billion. This is 19 per cent higher than the corresponding figure for 2023. The increase can mainly be attributed to a clear growth in investments in oil and gas activities and electricity supply. Industrial investments are lower in 2024 than in 2023 and are helping to dampen the overall upturn.
The companies' latest estimates for total investments in 2025 suggest an increase of 18 per cent compared to the corresponding 2024 estimate. At the same time, there is considerable uncertainty in the estimates for next year given at such an early stage.
The increase in 2025 is mainly due to the projection of a further increase in investments for both oil and gas activities and electricity supply. Manufacturing investment also contributes positively to this increase, but the increase here is more moderate. For more details about investments within the oil and gas industry, please see the following article.
According to Figures that are adjusted for calendar effects and seasonal variation. Such adjustment gives a more accurate picture of the underlying trend in the time series and makes it easier to compare results of subsequent quarters. figures, quarterly final investments had following development from the 4th quarter of 2023 to the 1st quarter of 2024:
Oil and gas: 2.0 %
Manufacturing: 1.5 %
Electricity supply: 4.4 %