Norway bounces back

摘要

This week's Upstream exclusive about Shell moving ahead with the long-delayed Linnorm gas and condensate development adds to an increasing number of dormant Norwegian projects dusted down for action in the second half of this year. In April, a study by Norwegian Oil and Gas Association estimated that offshore investments would fall by 50% from previous estimates due to the Covid-19 pandemic. Less than a year later, a new estimate from Statistics Norway shows a meagre drop of just 4.2% in investments, with 2021 capital expenditure estimated at Nkrl78.9 billion ($19 billion) and additional projects still unreported.