Norway Oil and Gas Producers Increase Investment Forecasts for 2026 and 2027

Norwegian oil and gas companies have raised their investment forecasts for 2026 and 2027 compared to estimates three months earlier, though overall capital spending is still on track to decline slightly from the 2025 record.

The companies now expect 2026 capex to clock in at NOK 266 billion ($28.64 billion), up from the NOK 255 billion projected in February, while 2027 spending is expected to come in at NOK 207 billion, above the earlier estimate of NOK 201 billion.

Among the primary drivers of the capital spending is a NOK 20 billion redevelopment…