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Proposed national budget 2015

14/10/2014 In its proposed national budget for 2015, the Government advocates allocating a total of NOK 413.5 million to operating expenses, procurement of equipment and maintenance in the Norwegian Petroleum Directorate.

Operating expenses

A proposed allocation of NOK 256.9 million is to cover operating expenses next year. This is an increase of NOK 3.8 million compared to the final budget for 2013.

Procurement

The Government proposes allocating NOK 3 million to procurement/maintenance. This is a million less than in the balanced budget for 2014. The reduction is linked to the introduction of a net scheme for budgeting value-added tax.

Special operating expenses

Special operating expenses include Supervision of the petroleum activity, Assignment and cooperation activity and Surveys, etc. The Government proposes an allocation totalling NOK 153.6 million for this in 2015, which represents an increase of NOK 3.5 million compared with the final budget for 2014.

The item Supervision of the petroleum activity encompasses metering audits and participation in licence meetings. The expenses are refunded by the operating companies. The Government proposes using NOK 3.1 million on this work.

NOK 72 million will budgeted for Assignment and cooperation activity expenses in 2015. These expenses cover assignments within data management and recovery technology, as well as the NPD’s share of the Diskos and Force cooperation projects. Furthermore, it includes expenses associated with the NPD’s collaboration agreement with Norad on consulting within petroleum management for developing countries.

The Government’s budget includes NOK 78.5 million for Surveys, etc. (mapping, seismic surveys and other geological data acquisition) under the direction of the NPD. This is a net increase of NOK 3.5 million from the final budget for 2014.

These expenses also include geological mapping in the Northern areas, including stratigraphic drilling to acquire 2D seismics. The surveys are a continuation of the comprehensive mapping programme which has been under way for several years.

The activity will provide new geological insight regarding large parts of the Barents Sea, including the areas adjacent to the demarcation line with Russia. Knowledge about what resources might be found on the Norwegian shelf is essential for ensuring good resource management, and for safeguarding Norway’s national interests.

Revenues

In total, the Government is budgeting NOK 107.55 million in revenues via the NPD in 2015. Of this, NOK 26 million comes from fee revenues and NOK 71.4 million from assignment and cooperation activity. Revenues from reimbursement of supervision expenses are estimated at NOK 10.15 million.

Updated: 15/10/2014