Norway To Boost Oil & Gas Production As It Expects Record 2023 Revenue

Western Europe’s biggest oil and gas producer, Norway, expects its oil and liquids production to rise by 15% next year with the second phase of the Johan Sverdrup oilfield development and the start-up of the Johan Castberg oilfield, the government said in its draft budget on Thursday. Natural gas production in Norway, which supplies around 25% of the gas consumed in the EU and the UK, is expected to rise by 8 percent in 2022 compared to 2021, the government’s latest estimates showed. “The energy crisis in Europe makes Norwegian…