8795_not-searchable
/en/energi-og-industri/statistikker/oljeinv/kvartal
8795
Lower oil investments in 2000 and 2001
statistikk
2000-09-07T10:00:00.000Z
Energy and manufacturing
en
oljeinv, Oil and gas activities, investments, petroleum activity, oil production, gas production, pipeline transport, exploration activity, field development, oil fields, gas fields, exploration costs, investment costsOil and gas , Energy and manufacturing
false

Oil and gas activities, investments, Q3 2000

Content

Published:

This is an archived release.

Go to latest release

Lower oil investments in 2000 and 2001

According to the investment survey conducted in the 3rd quarter of this year, the investments in the oil and gas extraction and pipeline transport sectors are estimated at NOK 51.1 billion and NOK 36.7 billion for 2000 and 2001 respectively. This is a NOK 18.0 billion decline from 1999, and a NOK 28.2 billion decline from 1998.

The decline from 1999 was mostly due to lower investments in field development. Investments in field development in 1999 came to NOK 35.2 billion, a decrease of NOK 9.9 billion from 1998. Investments for field development in 2000 and 2001 are now estimated at NOK 22.5 and NOK 14.8 respectively. Only a few development projects have been initiated in recent years. This explains the decline from 1998 to 2001.

Estimates for 2000

Investments in fields on stream in 2000 are now estimated at NOK 22.0 billion, the highest figure ever recorded and a NOK 2.0 billion increase from the estimate for 1999 given in the 3rd quarter of 1999. The increase from 1999 is mostly due to higher investments in existing fields, but the inclusion of the new fields such as Åsgard, Visund, Oseberg East, Troll C, Balder, Jotun and Oseberg South also contributed.

Exploration investments for 2000 are now estimated at NOK 4.7. This is NOK 0.3 billion lower than the corresponding estimate for 1999. It seems that the record high oil prices hav not affected this year`s investments in exploration.

Investments in onshore actvities and pipeline transport are for 2000 estimated at NOK 1.4 and 0.5 billion respectively. The corresponding estimates for 1999 amounted to NOK 4.0 and NOK 4.7 respectively. The decline in investments for pipeline transport is mainly due to lower investments in Europipe II and in the pipeline between Åsagrd and Kårstø in 2000 than in 1999.

Estimates for 2001

Total investments in oil and gas extraction and pipeline transport in 2001 are now estimated at NOK 36.7 billion. This is NOK 6.9 billion lower than the corresponding estimate for 2000 given in the 3rd quarter of 1999. The decrease is mainly due to a reduction in investments for field development.

Exploration investments for 2001 are now estimated at NOK 5.4 billion. This is an increase of NOK 1.7 billion from the corresponding estimate for 2000, and a NOK 2.4 billion upward adjustment from the last estimate for 2001 given in the 2nd quarter of 2000. The increase from 2000 may be due to the awarding of the 16th license round and the high oil price.

Investments in field development for 2001 are now estimated at NOK 14.8 billion. This is a NOK 5.6 billion drop compared with the corresponding estimate for 2000.

Investments in fields on stream in 2001 are now estimated at NOK 15.5 billion. This is a decrease of NOK 2.4 billion from the corresponding estimate for 2000 and an downward adjustment of NOK 0.5 billion from the estimate for 2001 given in the 2nd quarter of 2000.

Investments in onshore activities and pipeline transport for 2000 are now estimated at NOK 0.7 and 0.3 billion respectively. This is nearly unchanged from the last estimate conducted in the 2nd quarter of 2000.