Oil and gas activities, investments, Q2 2007

Investments for fields on stream and exploration activity increased compared with 2007, whereas investments in the other investments areas decreased.

Higher estimates for field development

The total investments for 2008 are now estimated at NOK 82.3 billion. This is an increase of NOK 14 billion compared with the investment estimate for 2007 given in the 2nd quarter 2006.

The investments for exploration activity in 2008 are now estimated at NOK 8.1 billion. The estimate is NOK 1.9 billion higher than the estimation for 2007 given in the 2nd quarter 2006.

Investments for field development and fields on stream are now estimated at NOK 69.4 billion. This is NOK 16.5 billion higher than the corresponding estimate given for 2007.

Onshore activities and pipeline transportation are estimated at NOK 4.3 and 0.5 billion respectively.

Record high estimates for 2007

The total investments for 2007 are now estimated at NOK 111.3 billion. This is an increase of NOK 6.7 billion compared with the previous quarter, and NOK 9.1 billion more than the investment estimate for 2006 given in the 2nd quarter 2006.

The investments for exploration activity in 2007 are now estimated at NOK 24.7 billion. This is NOK 11.6 billion higher than the corresponding estimate for 2006. The estimate is NOK 1.8 billion higher than the estimation for 2007 given in the 1st quarter 2007.

Investments for field development and fields on stream are now estimated at NOK 72.0 billion. This is an increase of NOK 3.7 billion compared with the previous quarter and NOK 7.2 billion higher than the corresponding estimate given for 2006.

Onshore activities and pipeline transportation are estimated at NOK 12.3 and 2.3 billion respectively.

Tables:

• Table 1 Accrued and estimated investment costs. Extraction of crude petroleum and natural gas and transport via pipelines. 2002-2008. NOK million
• Table 2 Accrued investment costs for oil and gas exploration, by cost category. Q1 2005-Q1 2007. NOK million
• Table 3 Accrued investment costs for field development and fields on stream. Q1 2005-Q1 2007. NOK million
• Table 4 Estimated and accrued investment costs for oil and gas extraction and pipeline transport. 1985-2008