Oil and gas activities, investments, Q2 2010

The estimate for 2011 is NOK 10.2 billion higher than the corresponding estimate for 2010 given in the 2^{n d} quarter of 2009. The increase is due to sharply higher estimates for fields on stream, while the estimates indicate downward adjustments in the level of investment in exploration, field development, onshore activity and pipeline transportation.

The investments for exploration activity in 2011 are now estimated at NOK 30.1 billion. The estimate is NOK 3 billion lower than the estimation for 2010 given in the 2^{n d} quarter of 2009.

Investments for field development and fields on stream in 2011 are estimated at NOK 109.7 billion. This is NOK 14.3 billion higher than the corresponding estimate given for 2010.

Onshore activities and pipeline transportation are estimated at NOK 5.8 and 0.7 billion respectively.

Higher estimates for 2010

Total investments in oil and gas activities for 2010, including pipeline transportation, are estimated at NOK 139.7 billion. The estimate is NOK 5.5 billion lower than the corresponding estimate for 2009 and NOK 4.1 billion higher than the estimate given in the previous quarter.

Investments in the exploration activity in 2010 are estimated at NOK 28.4 billion, which is NOK 3.9 billion higher than the estimate given in the previous quarter. The estimate is NOK 0.2 billion higher than the corresponding estimate for 2009, presented in the 2^{n d} quarter of 2009.

Investments for field development and fields on stream are now estimated at NOK 102.3 billion; an increase of NOK 0.2 billion compared with the estimate in the previous quarter and NOK 6.6 billion lower than the corresponding estimate for 2009.

Onshore activities and pipeline transportation are estimated at NOK 7.6 and NOK 1.3 billion respectively.

Tables:

• Table 1 Accrued and estimated investment costs. Extraction of crude petroleum and natural gas and transport via pipelines. 2005-2011. NOK million
• Table 2 Accrued investment costs for oil and gas exploration, by cost category. Q1 2008-Q1 2010. NOK million
• Table 3 Accrued investment costs for field development and fields on stream. Q1 2008-Q1 2010. NOK million
• Table 4 Estimated and accrued investment costs for oil and gas extraction and pipeline transport. 1985-2011