Norway oil investments set to decline in 2026, survey shows

Var Energi ASA

12/02/2026 07:44

OSLO, Feb 12 (Reuters) - Norwegian oil and gas investments are expected to decline this year and next as many field developments are completed while fewer new projects begin, a quarterly survey of the industry showed on Thursday.

The Nordic country's biggest business sector expects to invest 255 billion Norwegian crowns ($27 billion) this year, down from a record 273 billion crowns in 2025, Statistics Norway said.

Investments may be impacted, however, by cost inflation or new project additions, leaving the 2026 level subject to change.

($1 = 9.4869 Norwegian crowns)

 (Reporting by Nerijus Adomaitis, editing by Terje Solsvik and Alex Richardson)

 ((nerijus.adomaitis@thomsonreuters.com; +47 9027 6699; Reuters Messaging: nerijus.adomaitis.thomsonreuters@reuters.net))