Norway’s Oil Investment Set for Record High in 2024

Higher costs and ongoing field developments are set to boost oil and gas investments to a record high offshore Norway, the top hydrocarbon producer in Western Europe, according to new data from Statistics Norway. Total investments in oil and gas activity in 2024, including pipeline transportation, are estimated at an all-time high of $24 billion (257 billion Norwegian crowns), Statistics Norway said on Thursday in its third-quarter survey of oil companies’ investment plans. The latest estimate is 4.1% higher compared to the investment plans…