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Norway oil firms raise 2021 investment plans

OSLO, Nov 19 (Reuters) - Oil and gas firms in Norway have boosted investment plans in recent months as more exploration and development projects are prepared, and as some costs have increased, an industry survey by the statistics office (SSB) showed on Thursday.

The investment forecast for 2021 has been raised by 12%, it said.

Investment levels, impacting both the near-term growth of Norway’s economy as well as the country’s longer-term output of petroleum, is still expected to decline in 2021 from 2020, but the drop will be smaller than anticipated three months ago. (Reporting by Terje Solsvik, editing by Gwladys Fouche)

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