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

The Report Covers Norway Oil and Gas Companies and it is Segmented into Upstream, Midstream, and Downstream.

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

Norway Oil & Gas Market Size

Norway Oil and Gas Market Overview
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2020 - 2023
CAGR 7.50 %
Market Concentration Medium

Major Players

Norway Oil and Gas Market Companies

*Disclaimer: Major Players sorted in no particular order

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Norway Oil & Gas Market Analysis

The Norway Oil and Gas Market is expected to register a CAGR of greater than 7.5% during the forecast period.

  • The oil and gas upstream sector is expected to dominate the Norwegian oil and gas market, owing to discoveries in the North Sea.
  • The increasing demand for LNG in the country leads to the integration of smart technologies in the existing LNG infrastructure, which may create an ample number of opportunities for the market in the coming years.
  • Increasing investments are expected to drive the Norwegian oil and gas market, mainly in the gas fields of the North Sea.

Norway Oil & Gas Industry Overview

The Norwegian oil and gas market is moderately fragmented. Some of the key players in the market include Equinor ASA, Aker BP ASA, TotalEnergies SE, Shell PLC, and Exxon Mobil Corporation.

Norway Oil & Gas Market Leaders

  1. Shell PLC

  2. Exxon Mobil Corporation

  3. Equinor ASA

  4. TotalEnergies SE

  5. Aker BP ASA

  6. *Disclaimer: Major Players sorted in no particular order
Equinor ASA, Aker BP ASA, TotalEnergies SE, Shell PLC, and Exxon Mobil Corporation.
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Norway Oil & Gas Market News

  • In March 2021, Equinor announced that it would be spending about USD 1 billion together with Shell, Total, and ConocoPhillips for a plan to provide low-carbon electricity to the giant Troll field in the North Sea.
  • In November 2021, Norway's state-controlled Equinor was expected to turn the Oseberg field on the Norwegian Continental Shelf from primarily being an oil asset into a gas producer under the development plan
  • In July 2021, Equinor, along with its license partners Source Energy AS and Wellesley Petroleum, announced the discovery of gas and condensate on the Norwegian continental shelf.

Norway Oil & Gas 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 Oil and Gas Proven Reserves in Norway
  • 4.3 Crude Oil Production Forecast in thousand barrels per day, Norway, till 2027
  • 4.4 Refining Capacity and Forecast in thousand barrels per day, till 2027
  • 4.5 Average Onshore and Offshore Rig Count, Norway, till 2021
  • 4.6 Natural Gas Production Forecast in billion cubic metres, Norway, till 2027
  • 4.7 Recent Trends and Developments
  • 4.8 Government Policies and Regulations
  • 4.9 Market Dynamics
    • 4.9.1 Drivers
    • 4.9.2 Restraints
  • 4.10 Supply Chain Analysis
  • 4.11 PESTLE Analysis

5. MARKET SEGMENTATION

  • 5.1 Upstream
  • 5.2 Midstream
  • 5.3 Downstream

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Equinor ASA
    • 6.3.2 Aker BP ASA
    • 6.3.3 TotalEnergies SE
    • 6.3.4 Shell PLC
    • 6.3.5 Exxon Mobil Corporation
    • 6.3.6 DNO Norge AS
    • 6.3.7 Petoro AS
    • 6.3.8 Baker Hughes Company
    • 6.3.9 Schlumberger Limited
    • 6.3.10 Chevron Corporation
    • 6.3.11 Vr Energi AS
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Norway Oil & Gas Industry Segmentation

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Norway Oil & Gas Market Research FAQs

What is the current Norway Oil and Gas Market size?

The Norway Oil and Gas Market is projected to register a CAGR of greater than 7.5% during the forecast period (2025-2030)

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

Shell PLC, Exxon Mobil Corporation, Equinor ASA, TotalEnergies SE and Aker BP ASA are the major companies operating in the Norway Oil and Gas Market.

What years does this Norway Oil and Gas Market cover?

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

Norway Oil and Gas Industry Report

Statistics for the 2025 Norway Oil and Gas market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Norway Oil and Gas 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.