12 Jan Norwegian Offshore Directorate release 2025 exploration results
The exploration result in 2025 was among the best in several years, but future value creation for the broader society will require more exploration and work to develop discoveries that have already been made.
In 2026, the Norwegian Offshore Directorate expects investments on the NCS totalling NOK 256 billion. This represents a reduction of 6.5 per cent from the previous year. The Directorate expects the investment level to decline gradually leading up to 2030.
The report also said “One important reason why production remains at such high levels is that the fields are producing for longer than originally planned because new and improved technology has allowed us to continuously improve our understanding of the subsurface.
“New development projects, more production wells and exploration in the surrounding area have helped extend the lifetimes of most fields … A number of fields are producing between 10 and 30 years longer than originally planned.
“Certain fields that are no longer producing are now being considered for reopening.”.
Oil production in 2025 amounted to about 106 million standard cubic metres (Sm3), which represents the highest level of production since 2009.
The Johan Sverdrup field in the North Sea accounts for close to 40 per cent of this, and the field has produced at plateau over the last three years. The field will continue to provide a significant share of oil production over the next few years, despite gradually declining from plateau.
The Johan Castberg field in the Barents Sea started producing in March and has gradually contributed to increased oil production on the shelf. The field reached plateau production in the summer of 2025, and the Directorate expects plateau production to be maintained for several years before a natural decline.
Production from the NCS is nearly equally distributed between oil and gas. A total of about 120 billion standard cubic metres of gas (Sm3) was sold. This is a minor reduction compared with the record-breaking year of 2024. We expect gas production to remain at this level over the next three to four years.
Norwegian gas accounts for about 30 per cent of EU gas consumption, and Norway is Europe’s largest supplier after cutting off Russian gas.
The Troll field in the North Sea accounts for about one-third of overall gas production, and this situation will continue over the next few years.
Total production on the NCS (oil, gas, NGL and condensate) amounted to 238 million standard cubic metres of oil equivalent (MSm3 o.e.). Production is expected to remain at a stable, high level over the next few years, and will then gradually decline towards the end of the 2020s.
At year-end 2025, there were 97 fields in operation on the Norwegian shelf. The Halten Øst and Verdande fields in the Norwegian Sea, as well as Johan Castberg in the Barents Sea, came on stream, and no fields were shut down over the past year. The Norwegian Offshore Directorate expects a number of new fields to come on stream over the years to come. Related Report
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