Oil and gas companies in Norway lowered their investment forecasts for 2019 to 172.7 billion crowns ($20.06 billion) from 175 billion crowns in November, Statistics Norway (SSB) said on Thursday.
In 2020, investments are expected to fall to 158.5 billion crowns, according to forecasts of the Norway's national statistical institute.
The SSB said "the forecasts may be revised upwards in the coming months for 2020," due to several plans for development and operation, which are expected to be submitted to the government in both 2019 and 2020.
"If the schedules for these plans are realized, the accumulated investment costs in 2020 from these projects will increase the investment in field development compared to the present estimate," it added.
($1 = 8.60 Norwegian crowns)
By Murat Temizer