In the Revised National Budget for 2005 the price for Norwegian crude oil for 2005 is 300 Norwegian kroner (NOK) per barrel. For 2006 the price assumption is NOK 280 per barrel. Compared to the National Budget 2005 this is an upward adjustment of NOK 70 for both years.

The average production of Norwegian crude oil (including NGL*) is expected to be 3.2 million barrels per day in 2005, approximately the same as last year. Oil production is expected to remain at this level over the next years, but will then gradually decline.

Gas sales in 2005 are estimated to approximately 80 billion standard cubic meters (scm). In 2004 gas sales were 78.5 billion scm. Gas sales are expected to rise towards a long term level of 120 billion scm per year from 2011. In the years to come gas will gradually increase its share of the total petroleum production on the Norwegian continental shelf.

2005 looks to become a record year for investments on the Norwegian continental shelf. Investments are expected to amount to about NOK 90 billion in 2005, including investments in exploration. The high level of investment is to a large extent due to development of the fields Ormen Lange, Snøhvit and Kristin.

The state's net cash flow from the petroleum sector is estimated to NOK 260.1 billion in 2005. Taxes and fees constitute NOK 158.6 billion. Net cash flow from State Direct Financial Interest (SDFI) is NOK 93.4 billion and dividend from Statoil is NOK 8.1 billion. Compared to the estimate in the National Budget for 2005 the state's net cash flow has increased with NOK 55.6 billion. The main reason for the increased estimate is higher estimated oil price.

*NGL = Natural Gas Liquids