Norwegian oil and gas spending is expected to reach a new high next year. Statistics Norway has raised previous investment forecasts for 2011 and 2012.
investment this year is now estimated at$28.3billion). This is $1.3billion up on the prior estimate and $2.28billion more than for 2010.
Next year, the agency sees total investments at $31.9billion, an increase of $5.34billion compared with its previous estimate and the highest estimate since Statistics Norway started collecting estimates in 1985.