Norway Oil Firms Raise 2026 and 2027 Investment Outlook
Norwegian oil and gas companies have raised their 2026 investment projections to 266 billion crowns as the government seeks to extend petroleum production. While estimates for 2027 also increased, overall spending is expected to decline from the record levels seen in 2025.
Norway oil and gas producers raised their 2026 investment forecasts to 266 billion crowns ($28.64 billion) following a quarterly industry survey. The revised figure marks an 11 billion crown increase from estimates provided in February. This spending shift signals the industry's effort to extend production life despite a projected decline of 7 billion crowns from record-high 2025 expenditure levels.
### Tax Incentives Drive Near-Term Spending The current investment cycle stems from a wave of offshore projects approved in 2022 under temporary tax incentives. While these projects bolstered activity, the Statistics Norway (SSB) survey indicates most will reach completion by next year. Consequently, total investment is set to decline slightly from the 273 billion crown record expected in 2025.
