Norwegian Investment Seen Lower for Longer

摘要

The Norwegian Oil and Gas Association (NOGA) reckons the industry will face two more years of falling investment as it continues to adjust to a more sustainable cost base, having predicted last year that 2017 would be a turning point. After several years of hefty capital spending on the Norwegian Continental Shelf, the steep drop in the oil price since mid-2014 has led to a focus on efficiency but also project deferrals due to poor economics.