Statistics Norway is expecting a record €25.2 billion investment in 2014 with Norway planning to step up its attempt to maintain production on current levels.
According to Statistics Norway, total investments in oil and gas activity in 2014, including pipeline transportation, are now estimated at NOK 223.3 billion (€25.2 billion); an increase of NOK 8.2 billion compared with the estimates given in the previous quarter.
According to the Norwegian Oil and Gas Association, investments in Norway’s oil and gas industry will peak in 2014 and then will fall, given higher costs, a tax increase and prices uncertainties.
“After almost a decade of declining production from the Norwegian continental shelf (NCS), we are at another turning point where output has again begun to rise,” the lobby group said last month.
With the rise of production on the NCS, Norway is looking for foreign talent to join its workforce. Many oil companies are recruiting through TUjobs.com, an online recruitment website that posts daily job vacancies in the oil and gas industry.
Visit www.TUjobs.com to read more and browse this week’s job vacancies in the Norwegian oil and gas industry.