Investment in Norwegian oil and gas down by 11.4% in 2017

Investment in Norway’s oil and gas industry is expected to drop by 11.4% year on year in 2017, according to the latest estimates from state statistics service the SSB, which were released on Thursday.

Investment in the sector is expected to amount to NOK 150.8 billion ($18.56 billion). The decline is more severe than the 7.1% drop predicted in previous forecasts.

Investment in 2018 is estimated at NOK 144.3 billion, a drop of 1.6% year on year.