The Norwegian Offshore Directorate’s annual review for 2025 highlighted the second-highest exploration levels in a decade, with significant discoveries and over 10km of wellbores drilled. Despite the success, sustained exploration efforts are needed to counteract a predicted production decline in the future.

Oil production in 2025 reached 106 million standard cubic metres, the highest since 2009, with a nearly equal balance between oil and gas output. Gas production is expected to remain steady, making up 30% of EU gas consumption.

Projected investments for 2026 show a 6.5% decrease from the previous year, with expectations of reduced investment levels towards 2030. Decisions on new field developments and high exploration activity are crucial to prevent a decline in production by the late 2020s.

The Norwegian Continental Shelf saw the creation of the first comprehensive carbon capture and storage value chain in 2025, reflecting a growing interest in secure CO₂ storage. The Directorate also focused on mapping mineral resources and assessing environmental conditions in key areas of interest.

Read more at Yahoo Finance: Norwegian Continental Shelf sees record exploration in 2025