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Norwegian Petroleum Directorate: 3 tough years ahead

After many years of declining investments on the Norwegian Shelf, the Director General of Norwegian Petroleum Directorate, Bente Nyland, projects that the tide will turn in 2019, and then investments will increase moderately.

Photo: BP

The Norwegian Petroleum Directorate expects continued low investments on the Norwegian Shelf, until the development turns, and the investments are expected to increase starting in 2019, according to a statement on the directorate's website, which was released Thursday.

From the record years of 2013 and 2014, the investments on the Norwegian Shelf have undergone a de-facto decline. From 2014 to 2015, investments fell 16 percent to about USD 17 billion, the petroleum directorate writes. Investments are projected to drop until 2019, when the forecast indicates "moderate increases".

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