NORWAY

(in North West Europe)

CAPITAL: OSLO

POPULATION: 5 mm

AREA (on): 323,800 km2

OIL PEAK: 2001

SUPPLY

Oil production in Norway, which all comes from offshore in the North Sea and Norwegian Sea, reached a peak in 2001. Although many additional fields await development and there are numerous prospects in shallow and deeper waters these will be unable to permanently reverse long term decline.

Gas production continues to rise rapidly as new fields are developed, in particular the Troll field and the deepwater Ormen Lange field. New developments in the Barents Sea, including Europe’s first LNG plant, are also stemming declines. Most of Norway’s major gas deposits have now been exploited and its older fields are nearing the end of their lives so the country will be increasingy required to search out new supplies in more difficult areas.

 

DEMAND

Norwegian oil consumption is now almost flat whilst its gas consumption is rising a little, after a brief dip. Exports of oil peaked in 2001 and have begun declining as production reduces.

However, exports of gas to Western Europe continue to grow rapidly. Exports are expected to reach a plateau by 2020 after which fields located in Arctic Russia, along with LNG, will be called upon to support the import requirements of northern Europe.

 

 
 

 

 

This is a simple forecast - detailed forecasts including offshore and onshore, deep water splits, sedimentary basins and major fields and drilling etc. can be purchased for most countries.

 

An onshore and offshore oil and gas production, consumption and drilling activity forecast report on this country can be commissioned,

including all relevant charts. Contact us for price and contents list.

 

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