2007: Norwegian oil production drops – Gas production up

As expected, oil production was somewhat lower in 2007 than in the previous year, while gas production has increased. This is shown by figures from the Norwegian Petroleum Directorate.

The report says 32 exploration wells were spudded in 2007, up from 26 in 2006. Twelve new discoveries were made, most of which appear to be fairly small.
– The Norwegian oil production is going down. We are soon moving from being an oil nation to become a gas nation, said Oil Director Bente Nyland during the presentation of the report.

The activity level on the Norwegian shelf is high. Higher oil prices have led to significant increases in both activity and cost levels. Continued growth in total investment costs is expected.

Norway Post