Norway's Oil and Gas Spending Outlook Shifts Toward 2027

Norwegian oil and gas companies have cut their projected investments for 2026 while raising the outlook for 2027 compared with estimates made three months ago, an industry survey by the statistics office (SSB) showed on Thursday.

The Nordic country's biggest business sector now expects to invest 266 billion Norwegian crowns ($27.80 billion) in 2026, down from 275 billion seen in August, while 2027 was raised to 237 billion from 227 billion.

The industry has warned that investment in new projects is set to decline as several major offshore developments approach completion and start production.

"The increase (for 2027) is mainly driven by higher numbers for field development and exploration," SSB said in a statement.

This story was originally published by Offshore Engineer. Read the full story at Offshore Engineer →