Oil and gas activities, investments, Q3 1999

This is a decrease of NOK 3,9 billion compared with the corresponding estimate for 1998. Investments for pipeline transport and exploration are the main contributors to this result.

The estimate for total investments in the oil and gas extraction and pipeline transport are at this time NOK 43,6 billion for 2000. This is a decrease of NOK 15,5 billion compared with the corresponding estimate for 1999. The main contributor to this result are lower investments in field development in 2000.

Record high investments in fields on stream

For 1999 investments for fields on stream are now estimated at NOK 20,0 billion. This is NOK 6,5 billion higher than the corresponding estimate for 1998. This is due to a higher number of fields on

stream in 1999 than in 1998. Fields such as Varg, Oseberg Øst and the Gullfakssatelites Rimfaks, Gullveig and Gullfaks Sør are examples of this.

Investments for exploration are now estimated at NOK 5,0 billion for 1999. This is a decrease of NOK 4,0 billion compared with the corresponding estimate for 1998. This is due to uncertainty about the oil price.

For 1999 investments for pipeline transport are now estimated at NOK 4,9 billion. This is a decrease of 4,3 billion compared with the corresponding estimate for 1998. The reason for this are lower investments in Europipe II and in the pipeline between Åsgard and Kårstø in 1999 than in 1998.

Lower investments in 2000

Investments for field development are now estimated at NOK 20,4 billion for 2000. This is a decrease of 8,0 billion compared with the corresponding estimate for 1999. Because of the uncertainty about the oil price many developmentprojects have been postponed.