Forecast: Oil and Gas Extraction Production Value in Norway

The production value of oil and gas extraction in Norway is forecasted to exhibit a steady decline from 2024 to 2028. The expected values show a decrease from 53.79 billion euros in 2024 to 50.85 billion euros in 2028. Notably, the values for 2024 are repeated twice, and there is no data provided for the year 2023. When comparing year-on-year variations, there is a consistent reduction in production value, indicating a negative trend.

The year-on-year variations in production value are as follows:

- 2024-2025: -1.39%

- 2025-2026: -1.40%

- 2026-2027: -1.40%

- 2027-2028: -1.40%

The Compound Annual Growth Rate (CAGR) for the period from 2024 to 2028 is -1.40%, reflecting an average annual decrease in production value.

Future trends to watch for in the oil and gas sector in Norway include potential impacts of global energy transition policies, shifts towards renewable energy sources, and technological advancements in extraction and production methods. Additionally, geopolitical factors and fluctuations in global oil prices may also influence future production values.