Bloomberg News

NPD Says Investments to Increase by 40% From 2010 to 2012

January 16, 2012

Jan. 16 (Bloomberg) -- Norway’s Petroleum Directorate said investments including exploration are expected to rise to about 170 billion kroenr in 2012 from “just under” 150 billion kroner in 2011.

“A further moderate increase is expected toward 2016,” the NPD said in a statement posted on its website today. “If exploration activity is excluded, investments during the period 2010-2012 will grow by more than 40 percent.”

Exploration costs in 2012 are estimated at about 30 billion kroner, about the same level as estimated in the previous forecast, it said.

To contact the editor responsible for this story: Meera Bhatia at mbhatia2@bloomberg.net


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