Norway's natural gas sales reached a record high in 2024, with plans to drill approximately 40 exploration wells this year.

Norway's oil and gas company delivered a record level of natural gas in 2024 and will drill a similar number of exploration wells this year to offset production declines in the later part of this decade. The Norwegian Petroleum Directorate said on Thursday that around 40 wells will be drilled in 2025, close to the 42 wells drilled last year. The agency stated in its annual report on shelf activities that roughly half of the wells will be in the North Sea, around 10 in the Norwegian Sea, and 4 to 6 in the Barents Sea. In 2022, Norway became Europe's largest supplier of natural gas, replacing Russia's gas supply that was reduced after the Russia-Ukraine conflict. Currently, the country contributes around one-third of Europe's natural gas and as European countries transition to green development, Norway may still be an important supplier. The agency reported that Norway's total natural gas sales last year were 1,240 billion standard cubic meters, higher than the record of 1,228 billion standard cubic meters set in 2022. The total production of oil and gas reached the highest level since 2009.