Most of the Norwegian continental shelf is in a mature phase, with petroleum production in decline. Oil output has fallen by 40 per cent from 2001, offset to some extent by higher gas production.
However, the contraction is set to become conspicuous over the coming decade unless large new discoveries are made. Fewer commercial finds will ultimately mean lower production.
A reduction in output will have direct consequences for jobs, government revenues and development opportunities for Norway’s most advanced knowledge-based sectors.
NPD resource report
Ministry of Petroleum and Energy licence awards