2009 might beat the records with regard to petroleum investments in the Norwegian shelf. There is a planned increase in investments of 1.3 billion EUR.

This year the petroleum industry investments were 16 billion EUR. Next year the total investments in Norway will be 17 billion EUR. However, the analysts predict a reduction in the investments in the years to come after 2009. It all depends on the level of oil prices.

If the current low price continues, the investments on the Norwegian shelf could drop drastically, according to a report presented by the Norwegian petroleum association OLF.

Looking further in to the future, the industry faces a huge challenge in keeping up its productivity if there are no new large oil and gas discoveries. The last discovery of a substantial size was the Ormen Lange gas field, which was discovered in 1997. If there is now new discovery of the same size within 2015, the productivity of the industry will drop.

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