By Gwladys Fouche
OSLO, Feb 21 (Reuters) - Oil and gas companies working inNorway have lowered their investment forecasts for 2019 to 172.7billion crowns ($20.1 billion) from 175.3 billion crowns seen inNovember, a survey by the country's statistics agency (SSB)showed on Thursday.
In 2020 investments are expected to fall to 158.5 billioncrowns, according to initial forecasts, though the forecastscould be revised upwards in the months to come, it added.
"Several plans for development and operation are expected tobe submitted to the government in both 2019 and 2020," theagency said in a statement.
"If the schedules for these plans are realised, theaccumulated investment costs in 2020 from these projects willincrease the investment in field development compared to thepresent estimate."
Equinor is Norway's largest oil company, competingwith the likes of Aker BP, Lundin Petroleum, Total or Shell.
The Norwegian central bank expects investment in the oilsector, the Nordic country's most important industry, to grow by3 percent in 2020.
"Our first impression is that there should be no need for amajor revision to the Norges Bank forecast," said Nordea Marketsanalyst Erik Bruce.
Norway's oil and gas investments have rebounded from a sharpfall as rising crude prices lift industry activity. It was SSB'sfourth release of companies' forecasts for 2019 and the firstfor 2020.($1 = 8.6077 Norwegian crowns)(Reporting by Gwladys FoucheEditing by Jason Neely and David Goodman)
BP (BP.)
