Norway Climbs Further on Oil and Gas

Thomas Edwards | 3rd September 2025 | Brussels, International, Lobbying, Trade Associations
StatfjordA(Jarvin1982)

Norway is ramping up investment in oil and gas even amid green energy expansion. Output continues to exceed expectations, with new licensing rounds and record field development. Political parties differ on the strategy, but the petroleum sector remains central to the economy and Europe’s energy supply.

Norway is placing its bets firmly on oil and gas, even as green energy ambitions simmer in the background. As Europe scrambles to replace Russian supplies, Oslo insists that its petroleum sector remains indispensable. Record investments are expected to peak this year before tapering off, but the government is pushing ahead with new licensing rounds into frontier areas of the Barents and Norwegian Seas to sustain momentum. Energy Minister Terje Aasland has signalled that the Norwegian continental shelf will continue to deliver jobs, state revenue and stability for Europe, positioning the country as the reliable supplier it has become.  Output continues to exceed expectations. In July, oil production surpassed forecasts by nearly 4 per cent, driven by the ramp‑up of a major new oilfield in the Barents Sea. Equally, gas production edged above estimates, despite seasonal maintenance work, confirming Norway’s status as Europe’s leading gas exporter.  State‑owned operators and global firms a...

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