Norway Oil & Gas Upstream Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Report Covers Norway Oil and Gas Companies and the market Gives an Insight into the Active Rig Count, Recent Trends and Developments, and Key Projects Information, and the Country's Upstream Spending Forecast.

Norway Oil & Gas Upstream Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Norway Oil and Gas Upstream Market Size

norway oil and gas upstream market
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2020 - 2023
CAGR 1.00 %
Market Concentration Low

Major Players

oil companies in norway

*Disclaimer: Major Players sorted in no particular order

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Norway Oil and Gas Upstream Market Analysis

The Norway Oil and Gas Upstream Market is expected to register a CAGR of greater than 1% during the forecast period.

  • The development of new oilfields is likely to drive the market over the forecast period.
  • The discovery of new small oilfields is likely to provide an opportunity for the upstream oil and gas companies operating in Norway in the near future.
  • The availability of oil reserves and increasing investment in the upstream sector are likely to drive the market over the forecast period.

Norway Oil and Gas Upstream Industry Overview

The Norwegian oil and gas upstream market is partially consolidated. Some of the major companies operating in this market include Equinor ASA, Aker BP ASA, Total SA, ConocoPhillips, and Royal Dutch Shell PLC.

Norway Oil and Gas Upstream Market Leaders

  1. Equinor ASA

  2. ConocoPhillips

  3. Total SA

  4. Aker BP ASA

  5. Royal Dutch Shell PLC

  6. *Disclaimer: Major Players sorted in no particular order
Equinor ASA, Aker BP ASA, Total SA, ConocoPhillips, Royal Dutch Shell PLC,  Vår Energi AS
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Norway Oil and Gas Upstream Market News

  • In March 2020, the Skogul field located in the central part of the Norwegian North Sea, operated by Aker BP had started production. The field is estimated to contain recoverable resources of 1.5 million standard cubic meters of oil (9.4 million bbls).
  • In December 2020, ConocoPhillips Skandinavia AS (operator) announced the discovery of a new oil discovery (wildcat well 6507/5-10 S) on the Slagugle prospect located 14 miles north-northeast of the Heidrun Field in the Norwegian Sea. The well is estimated to have 12 to 32 million standard cubic meters (Sm3) of recoverable oil equivalent.
  • In February 2021, Equinor discovered hydrocarbons near the Troll field in the North Sea. The wells (wildcat well 31/1-2 S, and appraisal well 31/1-2 A) were drilled about 10 kilometers northwest of the Troll field in the North Sea and 130 kilometers northwest of Bergen. Both wells are estimated to have 7 to 11 million Sm3 of recoverable oil equivalent.

Norway Oil and Gas Upstream Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Upstream Oil and Gas Spending in NOK billion, Norway, till 2026
  • 4.3 Number of Exploration Wells Spudded, Norwegian Continental Shelf, 2010-2019
  • 4.4 Active Rig Count, Norway, January 2014- January 2021
  • 4.5 Recent Trends and Developments
  • 4.6 Government Policies and Regulations
  • 4.7 Market Dynamics
    • 4.7.1 Drivers
    • 4.7.2 Restraints
  • 4.8 Supply Chain Analysis
  • 4.9 PESTLE Analysis

5. COMPETITIVE LANDSCAPE

  • 5.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 5.2 Company Profiles
    • 5.2.1 Equinor ASA
    • 5.2.2 Aker BP ASA
    • 5.2.3 Total SA
    • 5.2.4 ConocoPhillips
    • 5.2.5 Royal Dutch Shell PLC
    • 5.2.6 Vår Energi AS
  • *List Not Exhaustive

6. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Norway Oil and Gas Upstream Industry Segmentation

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Norway Oil and Gas Upstream Market Research FAQs

What is the current Norway Oil and Gas Upstream Market size?

The Norway Oil and Gas Upstream Market is projected to register a CAGR of greater than 1% during the forecast period (2025-2030)

Who are the key players in Norway Oil and Gas Upstream Market?

Equinor ASA, ConocoPhillips, Total SA, Aker BP ASA and Royal Dutch Shell PLC are the major companies operating in the Norway Oil and Gas Upstream Market.

What years does this Norway Oil and Gas Upstream Market cover?

The report covers the Norway Oil and Gas Upstream Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Norway Oil and Gas Upstream Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Orthodontic Equipment Industry Report

Statistics for the 2025 Norway Oil and Gas Upstream market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Norway Oil and Gas Upstream analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.