Norway's oil and gas export revenue stabilizes after peaking

Norway's vital oil and gas sector has surpassed its peak export revenue, now holding steady at approximately 200 billion kroner per year, according to data compiled by Econ Intel for Norwegian Energy Partners (NORWEP).

Ann Christin Andersen, CEO of NORWEP, noted that the impact of large-scale development projects is diminishing. "The figures indicate that we are past the peak on the Norwegian shelf," Andersen stated. "The effect of the major development projects is starting to wane. To maintain activity and employment, suppliers must increasingly focus on exports."

“

The figures indicate that we are past the peak on the Norwegian shelf. The effect of the major development projects is starting to wane. To maintain activity and employment, suppliers must increasingly focus on exports.

Data from Statistics Norway (SSB) reveals a slight decrease of around three percent in turnover for the first four months of 2026 compared to the same period last year. However, Andersen highlighted the resilience of Norwegian suppliers. "That we maintain exports despite a stronger krone is impressive," she said. "It shows that Norwegian suppliers compete on expertise and technology, not solely on price."

“

That we maintain exports despite a stronger krone is impressive. It shows that Norwegian suppliers compete on expertise and technology, not solely on price.