(Adds forecast for 2021, details)
OSLO, Feb 20 (Reuters) - Norwegian oil and gas investments,
the country's key economic driver, will rise more than
previously expected but will fall in 2021, an industry survey by
Statistics Norway (SSB) showed on Thursday.
The closely watched forecasts, based on data from oil and
gas companies working in Norway, showed investments rising to
185.4 billion Norwegian crowns ($19.9 billion), up from a
projection in November of 182.6 billion crowns.
Oil firms expect investments to be at 152 billion crowns in
2021, according to initial forecasts. The figure could rise in
coming quarters as companies add more projects, SSB said.
The projects expected to be approved this year include
Equinor's Breidablikk and Aker BP's Hod
redevelopment projects, SSB added.
Previous forecasts for 2020 did not include Vaar Energi's
19.6 billion crown Balder field redevelopment project,
which was submitted to the Norwegian authorities in
December.
The figures are closely watched by Norway's central bank,
which raised interest rates four times since September 2018, as
oil investment rebounded from a 2015-2017 slump, but it has
since put monetary policy on hold.
Oil and gas investments stood at 177.5 billion last year,
17% higher than in 2018, SSB said.
($1 = 9.3051 Norwegian crowns)
(Reporting by Nerijus Adomaitis; Editing by Edmund Blair)
