Norway to Increase Gas Production in Coming Years

Norway sees an increase in gas production in the coming years, with the Norwegian Petroleum Directorate (NPD) saying that nearly 40% of the remaining resources have not yet been discovered.

‘Future developments will gradually contribute an ever-increasing share of the production,’ reads a note released on Thursday.

At the moment, the discovery portfolio consists of small discoveries. Johan Sverdrup and Johan Castberg are the only two exceptions.

"Cost trends in the petroleum industry pose a challenge, both for developing discoveries and for project commitments that can increase recovery from a field. For example, drilling costs have more than doubled during the last 10 years. This cost growth could threaten profitability of future projects," NPD’s director Jan Bygdevoll commented.