EnergyWatch

Costs of Norwegian oil production halved

Since 2014, costs in the Norwegian oil sector have been more than halved according to a new report from the Norwegian Petroleum Directorate. While 2017 and 2018 will see a lower investment level than in 2016, the picture will change in 2019, say estimates. Read the report here.

Photo: Helge Hansen, Statoil

The Norwegian oil industry has undergone several years of transition and downsizing and is now well prepared for the future.

This is according to the Norwegian Petroleum Directorate, which has just published its report 'The Shelf in 2016: Prepared for the Future', which evaluates last year's oil production and estimates the potential for the coming years, including how many billions will be invested in the industry.

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