Oil and gas activities, investments, Q1 2007

The estimate for 2007 is NOK 12.0 billion higher than the corresponding estimate for 2006 given in the first quarter of 2006.

Final investments in 2006

Total investments in oil and gas extraction and pipeline transport for 2006 came to NOK 95.7 billion. This is NOK 4.2 billion lower than the estimate given in the fourth quarter of 2006, but an increase of NOK 7.3 billion compared with final investments in 2005. The increase in 2006 was due to higher investments in all investment areas except pipeline transportation.

Final investments for exploration activity in 2006 came to NOK 11.7 billion, an increase of NOK 4.2 billion compared with final investments in 2005. Compared with the previous quarter, the final figures were NOK 0.8 billion lower.

Final investments in field development and fields on stream came to NOK 60.3 billion, an increase of NOK 6.4 billion compared with final figures for 2005.

Onshore activity and pipeline transportation came to NOK 18.4 and NOK 5.3 billion respectively.

Estimates for 2007

Total investments in oil and gas activities for 2007, including pipeline transportation, are estimated at NOK 104.6 billion. This is an increase of NOK 4.4 billion compared with the previous quarter, and NOK 12.0 billion higher than the investment estimate for 2006 given in the first quarter of 2006.

Investments for exploration activity are now estimated at NOK 22.9 billion. This is NOK 11.0 billion higher than the corresponding estimate for 2006, but NOK 1.7 billion lower than the estimate for 2007 given in the fourth quarter of 2006.

Investments for field development and fields on stream are now estimated at NOK 68.3 billion. This is NOK 6.2 billion higher than the estimate given in the previous quarter and NOK 7.5 billion higher than the corresponding estimate given for 2006 in the first quarter of 2006.

Onshore activities and pipeline transportation are estimated at NOK 10.3 and NOK 3.1 billion respectively.

Tables:

• Table 1 Accrued and estimated investment costs. Extraction of crude petroleum and natural gas and transport via pipelines. 2002-2007. Million NOK
• Table 2 Accrued investment costs for oil and gas exploration, by cost category. Q4 2004 - Q4 2006. Million NOK
• Table 3 Accrued investment costs for field development and fields on stream. Q4 2004 - Q4 2006. Million NOK
• Table 4 Estimated and accrued investment costs for oil and gas extraction and pipeline transport. 1985-2007