OSLO, Aug 15 (Reuters) - Norwegian oil and gas investments are expected to hit a record this year and to stay high in 2025, driven by a string of ongoing field developments and cost inflation, a national statistics office (SSB) survey showed on Thursday.

The country's biggest business sector now expects to invest an all-time-high 257 billion Norwegian crowns ($23.99 billion) in 2024, up from a 246.9 billion crown estimate made in May and exceeding a previous record of 224 billion crowns in 2014.

Preliminary estimates for oil and gas investments in 2025 stood at 240 billion crowns, compared to a previous estimate of 215.8 billion crowns in May.

Forecasts will normally rise as companies firm up spending plans in the months leading up to a new year.

($1 = 10.7126 Norwegian crowns)

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https://www.reuters.com/business/energy/norwegian-oil-companies-further-increase-oil-investments-2024-08-15/