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Norway oil investments to fall further in coming years-directorate

Reuters - UK Focus

STAVANGER, Norway, Jan 14 (Reuters) - Norwegian oil and gas investments will fall further in 2016 and in the coming years following a 16-percent drop in 2015, the Norwegian Petroleum Directorate (NPD) said on Thursday.

The NPD now sees investments excluding exploration falling to 135 billion crowns ($15.31 billion) in 2016 from close to 150 billion in 2015. It (Other OTC: ITGL - news) predicted a moderate rebound in investments from 2019 onwards.

($1 = 8.8169 Norwegian crowns) (Reporting by Stine Jacobsen, writing by Gwladys Fouche, editing by Terje Solsvik)