Norway oil and gas spending set to drop this year as field developments wrap up
Norwegian oil and gas investments are set to fall this year as major projects conclude. Spending is now projected to reach 255 billion crowns through 2026.
Statistics Norway released its quarterly survey on February 12, 2026, indicating that investments in the Norwegian oil and gas sector are projected to decline in Norway 
NO. The report estimates that capital expenditure for 2026 will reach 255 billion Norwegian crowns, representing a decrease from the record-high 273 billion Norwegian crowns expected in 2025. This shift marks a significant change in the near-term capital expenditure profile for what remains the country's largest business sector.
NO. The report estimates that capital expenditure for 2026 will reach 255 billion Norwegian crowns, representing a decrease from the record-high 273 billion Norwegian crowns expected in 2025. This shift marks a significant change in the near-term capital expenditure profile for what remains the country's largest business sector.According to the survey, the anticipated reduction in spending is primarily driven by the completion of numerous field developments. While the industry has seen high activity levels recently, fewer new projects are beginning to take their place. The survey specifically notes the role of offshore oil and gas projects approved in 2022, many of which are now reaching the end of their development phases, leading to the projected drop in overall investment.
