en.Wedoany.com Reported - The Norwegian government's latest forecast shows that the net cash flow from the country's petroleum sector will reach 686 billion Norwegian kroner (approximately $74.43 billion) in 2026, an increase from 665 billion Norwegian kroner (approximately $72.04 billion) in 2025. Meanwhile, total oil investments in Norway are expected to reach 283 billion Norwegian kroner (approximately $30.71 billion) in 2026. This data was released by the Norwegian government after assessing stable production and high oil revenues on the Norwegian Continental Shelf (NCS).

The Norwegian Continental Shelf (NCS) supplies about 30% of the EU and UK's natural gas consumption and 14% of their oil consumption. The Norwegian government stated that total oil production this year is expected to remain flat compared to 2025, at approximately 239 million standard cubic meters of oil equivalent. Last year, Norway's oil production was about 107 million standard cubic meters of oil equivalent, the highest level since 2009. The start-up of the Johan Castberg field in the Barents Sea contributed significantly to the production increase, and the field is expected to continue providing important output in the coming years.

Norwegian Energy Minister Terje Aasland pointed out that in times of global geopolitical turmoil, Norwegian energy directly contributes to the energy security, economic stability, and national security of its allies. He emphasized that Norway must continue to develop the continental shelf to maintain its position as a stable, long-term energy partner, and that current decisions will affect future oil and gas extraction on the Norwegian Continental Shelf.

Regarding the investment outlook, the Norwegian government warned that as several large ongoing projects are completed one after another, investment is expected to decline in the coming years if no new projects are initiated in a timely manner. Aasland stated that maintaining the current level of activity requires new development projects, and the supply industry must capitalize on the business opportunities presented by the oil and gas resources on the Norwegian Continental Shelf. The government will support further exploration, enhanced recovery, and the development of new discoveries through stable and predictable framework conditions.

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