Norway sets its own records in natural gas sales.

Norwegian oil and gas companies increase gas production

Oil and gas companies in Norway have recorded record volumes of natural gas production in 2024 and plan to drill the same number of wells this year. The reason for this is to compensate for the decline in production over the last quarter of a decade.

According to Bloomberg, about 40 wells are planned to be drilled in 2025, which corresponds to the number of wells drilled last year. A dozen of them will be located in the North Sea, about 10 in the Norwegian Sea, and four to six in the Barents Sea, reports Ekonomichna Pravda.

In 2022, Norway took the leading position in Europe as the largest supplier of natural gas, displacing Russian flows that were halted after the invasion of Ukraine.

Currently, Norway supplies about a third of the natural gas on the continent and is likely to continue to maintain a key position in this area as European countries use it as a transitional fuel amid the development of the 'green' movement.

Natural gas sales from Norway last year amounted to 124 billion standard cubic meters, exceeding the previous record set in 2022 - 122.8 billion standard cubic meters. Total oil and gas production reached the highest level since 2009.