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New investments in Norwegian offshore for USD 69.5 billion

The Norwegian offshore sector braves the fluctuating oil prices. The latest figures show that investments this year and next year will surpass all expectations.

Photo: Øyvind Hagen/Statoil

In spite of a fluctuating oil price in recent weeks and months, and the fact that analysts are having a hard time figuring out whether oil extraction represents a solid business on the long term, investors have apparently made up their minds.

New figures released Thursday by the Norwegian statistics bureau Statistisk Sentralbyrå (SSB) show that the willingness to invest in the Norwegian continental shelf in North Sea and the Barents Sea is at an all-time high.

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