Exploration in Norway in 2025 was the second highest for 10 years, said the Norwegian Offshore Directorate
Exploration in Norway in 2025 was the second highest for 10 years, said the Norwegian Offshore Directorate
‘Last year was surpassed only by 2021. Many discoveries were made. Several discoveries are the result of applying advanced new technology,’ said the NOD in a statement. ‘Among other things, more than ten kilometres of wellbores have been drilled.’
Oil production of 106 million standard cubic metres is the highest since 2009. Production from the NCS is nearly equally distributed between oil and gas. A total of 120 billion standard cubic metres was sold, which represents a minor reduction from the record-breaking year of 2024.
‘We expect gas production to remain at this level over the next three to four years. Norwegian gas accounts for about 30% of EU gas consumption, and Norway is Europe’s largest supplier after cutting off Russian gas,’ Stordal said.
In 2026, the Norwegian Offshore Directorate expects investments of NOK 256 billion ($25 billion), a reduction of 6.5% from last year. ‘Leading up to 2030, we expect the investment level to decline gradually due to the completion of development projects without equivalent new projects to replace them. Toward the end of the 2020s, the Directorate expects a reduction in overall production.
