Norway oil saw record investment in 2013

The Local Norway
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Norway oil saw record investment in 2013
Statoil's Statfjord B oil rig. Photo: Statoil

Oil companies invested a record NOK 176 billion ($30bn) on exploring for and developing new oil fields in Norwegian waters, the latest annual review by industry consultants Wood Mackenzie has reported.


The spending levels, up 30 percent since 2012, is likely to remain high over the coming year, according to the report's main author, Malcolm Dickson.
"“Norway will also see significant developments in 2014 with projects such as Johan Castberg, Johan Sverdrup and Goliat on track to reach crucial milestones in terms of their development," he said. 


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