OSLO, NORWAY - Oil production from Norway‘s offshore fields is expected to decline by almost 5 percent this year, although natural gas exports continue to set new records, the Norwegian Petroleum Directorate said Thursday.
The report said crude oil flows from the world‘s third largest oil exporter also declined about 9 percent from 2004 to 2005. It said that was due partly to lost production from the Snorre offshore field after it was shut down into early 2005 because of a natural gas blowout in late November 2004.
However, it said natural gas exports during 2005 set a new annual record of 35.3 trillion cubic feet, an increase of 8 percent over 2004.
The directorate said investments in developing offshore finds had increased nearly 23 percent from 2004 to 83 billion kroner ($12.57 billion) in 2005.
PIN/HERALD NEWS
کد خبر 77291