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OGJ Newsletter

06/11/2007
General Interest - Quick TakesNorway plans $17.6 billion budget for NCSNorway expects operators will spend $17.6 billion on the Norwegian Continental Shelf in 2007, according to the revised 2007 national budget published by Norway’s petroleum ministry. The sum is $2.2 billion higher than the last estimate in its national budget for 2007.The ministry said investment is expected to rise over coming years and attributed the difference to escalating well costs. Production and exploration wells as well as average well costs have all increased since the 2007 national budget was published, it added.Average Norwegian oil prices are expected to be $61/bbl for 2007 and $58/bbl for 2008 under ...
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