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Posted On: 08/18/2025 5:10:25 PM
Post# of 205
Norway Plans to Inject Almost $23 Billion in Oil, Gas Operations in 2026
Statistics Norway, the statistics body of the country, has revealed that there is an increase in its estimates for the country’s expenditure in the oil and gas industry next year. The revised estimates indicate that the expenditure will increase to about $22.5 billion due to anticipated increase in production drilling operations.
Total investments in the sector are expected to increase by 11% from what had initially been projected and the new figure is now going to be $2.26 billion. Statistics Norway also revealed that investment estimates for next year by oil companies are projected to be lower than those of this year by 4.5% due to decreased investment in field activities by those companies.
The Offshore Directorate of Norway (NOD) had previously warned back in 2024 that more than $1.4 trillion risked being lost if the country didn’t ramp up operations to discover additional oil resources on the NCS (Norwegian Continental Shelf) and leverage advanced technologies geared at boosting production levels there.
After the spending forecasts for this year were revised, the country now expects to inject approximately $26.9 billion into its pipeline transportation and gas extraction activities in 2025. This marks a 2.1% increase from the initial projections and reflects a 6.9% rise from the expenditure for the same period last year. This increase arises after costs on onshore activities, pipeline transport, and stream operations increased.
In contrast, data released by Statistics Norway indicates that costs for field development, field shutdown and field closure in 2024 were higher than those anticipated for this year and next year. This indicates a downward trend for these activities within the foreseeable future.
The data on increased field activities for next year shows that production drilling will significantly increase in fields that are already producing oil and gas. Exploration and pipeline transportation will correspondingly increase revenue and thereby tamp down the costs of the projected increases in production from the new wells brought online.
Equinor, the oil company owned by the state, released data showing how it plans to ramp up its expenditure in the industry over the coming ten years. This increased expenditure is tailored to maintain its extraction rate at approximately 1,200,000 barrels each day while also slashing the company’s emissions by half over the coming decade as required under the Paris Agreement.
The growing investment in Norway’s oil and gas sector shows that global demand remains strong over the coming decade. It is therefore not surprising that U.S. companies like GEMXX Corp. (OTC: GEMZ) are similarly conducting exploration activities in Latin America to meet the sustained demand around the globe.
NOTE TO INVESTORS: The latest news and updates relating to GEMXX Corp. (OTC: GEMZ) are available in the company’s newsroom at https://ibn.fm/GEMZ
Please see full terms of use and disclaimers on the Rocks & Stocks website applicable to all content provided by R&S, wherever published or re-published: https://RocksAndStocks.news/Disclaimer
Statistics Norway, the statistics body of the country, has revealed that there is an increase in its estimates for the country’s expenditure in the oil and gas industry next year. The revised estimates indicate that the expenditure will increase to about $22.5 billion due to anticipated increase in production drilling operations.
Total investments in the sector are expected to increase by 11% from what had initially been projected and the new figure is now going to be $2.26 billion. Statistics Norway also revealed that investment estimates for next year by oil companies are projected to be lower than those of this year by 4.5% due to decreased investment in field activities by those companies.
The Offshore Directorate of Norway (NOD) had previously warned back in 2024 that more than $1.4 trillion risked being lost if the country didn’t ramp up operations to discover additional oil resources on the NCS (Norwegian Continental Shelf) and leverage advanced technologies geared at boosting production levels there.
After the spending forecasts for this year were revised, the country now expects to inject approximately $26.9 billion into its pipeline transportation and gas extraction activities in 2025. This marks a 2.1% increase from the initial projections and reflects a 6.9% rise from the expenditure for the same period last year. This increase arises after costs on onshore activities, pipeline transport, and stream operations increased.
In contrast, data released by Statistics Norway indicates that costs for field development, field shutdown and field closure in 2024 were higher than those anticipated for this year and next year. This indicates a downward trend for these activities within the foreseeable future.
The data on increased field activities for next year shows that production drilling will significantly increase in fields that are already producing oil and gas. Exploration and pipeline transportation will correspondingly increase revenue and thereby tamp down the costs of the projected increases in production from the new wells brought online.
Equinor, the oil company owned by the state, released data showing how it plans to ramp up its expenditure in the industry over the coming ten years. This increased expenditure is tailored to maintain its extraction rate at approximately 1,200,000 barrels each day while also slashing the company’s emissions by half over the coming decade as required under the Paris Agreement.
The growing investment in Norway’s oil and gas sector shows that global demand remains strong over the coming decade. It is therefore not surprising that U.S. companies like GEMXX Corp. (OTC: GEMZ) are similarly conducting exploration activities in Latin America to meet the sustained demand around the globe.
NOTE TO INVESTORS: The latest news and updates relating to GEMXX Corp. (OTC: GEMZ) are available in the company’s newsroom at https://ibn.fm/GEMZ
Please see full terms of use and disclaimers on the Rocks & Stocks website applicable to all content provided by R&S, wherever published or re-published: https://RocksAndStocks.news/Disclaimer
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