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216013
Investments set to flatten out in 2016
statistikk
2015-06-12T10:00:00.000Z
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
true
The statistics shows the development in estimated and final investments within oil and gas extraction and pipeline transport. Last estimates for 2015 indicate a decrease of 18 per cent compared with 2014.

Oil and gas activities, investments, Q2 2015

As from the third quarter of 2015 the statistics is published with Investments in oil and gas, manufacturing, mining and electricity supply.

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Published:

Investments set to flatten out in 2016

Total investments in oil and gas activity in 2016, including pipeline transportation, are NOK 184.9 billion in the preliminary estimate, which is 1.4 per cent higher than the corresponding estimate for 2015. The estimate for 2015 has been adjusted upwards by NOK 0.6 per cent to NOK 190.1 billion.

Estimated and accrued investment costs for oil and gas extraction and pipeline transport, by the point in time for the estimationPublished 12 June 2015
Investment costs (mill. NOK)
2013201420152016
Estimates made in May in the year before the investment year194 285208 223182 420184 902
Estimates made in August in the year before the investment year204 045215 095185 256.
Estimates made in November in the year before the investment year207 815223 259188 570.
Estimates made in February in the year of investments198 678223 724189 049.
Estimates made in May in the year of investments211 303231 700190 095.
Estimates made in August in the year of investments212 768227 267..
Estimates made in Novenber in the year of investments211 900218 584..
Accrued investment costs211 883214 310..

Source: Statistics Norway

Figure 1. Investments. Oil and gas activity. Estimates given on different points in time

After a strong increase in the investments from 2010 to 2013, the investments flattened out and peaked in 2014. Recent investment surveys indicate a significant decrease in the investment level in 2015. The oil companies` preliminary estimates indicate that the fall will flatten out in 2016.

2016

The total investment for 2016 is estimated at NOK 184.9 billion. This is 1.4 per cent higher than the corresponding estimate for 2015. The increase is due to higher estimates for exploration, field development and shutdown and removal, while the estimates indicate decreased investment in fields on stream, pipeline transportation and onshore activity.

Investments for field development and fields on stream in 2016 are estimated at NOK 128.7 billion. This is 2.4 per cent lower than the corresponding estimate for 2015, given in the 2nd quarter of 2014. The development project Maria has been added to the survey since the previous quarter.

Onshore activities and pipeline transportation are estimated at NOK 4.3 and 2.9 billion respectively. Both of these figures represent a decrease compared to the corresponding estimates given for 2015. The investments for exploration activity in 2016 are now estimated at NOK 36.9 billion. The estimate is 10.7 per cent higher than the estimation for 2015 given in the 2nd quarter of 2014.

2015

Total investments in oil and gas activities for 2015, including pipeline transportation, are now estimated at NOK 190.1 billion. The estimate is 0.6 per cent higher than the estimate given in the previous quarter.

The estimate for 2015 is 18 per cent lower than the corresponding estimate for 2014, given in the 2nd quarter of 2014. The decrease is due to lower investments in all investment areas except onshore activity and shutdown and removal, which seems to increase the investment level compared to 2014.

Investments in the exploration activity in 2015 are estimated at NOK 27.2 billion, which is 5 per cent higher than the estimate given in the previous quarter. The estimate is 23.7 per cent lower than the corresponding estimate for 2014, presented in the 2nd quarter of 2014.

Investments for field development and fields on stream in 2015 are now estimated at NOK 138.7 billion. The estimate is 21.6 per cent lower than the corresponding estimate for 2014, given in the 2nd quarter of 2014.

The information in the survey was collected from the operators on the Norwegian Shelf in May/June.

Is to be merged with investments in manufacturing, mining and quarrying and electricity supply, from next quarterOpen and readClose

From the Q3 publication in 2015, the statistics on oil and gas activities, investments (OLJEINV) will be merged with investments in manufacturing, mining and quarrying and electricity supply (KIS). The combined statistics will provide a more comprehensive presentation of final and planned investments for oil and gas, manufacturing, mining and quarrying and electricity supply.