OSLO, Jan. 14 (Xinhua) -- Norway's investments in the oil sectorfell by about 16 percent in 2015 from the year before and areexpected to continue their decline until 2019, the NorwegianPetroleum Directorate (NPD) said on Thursday.

　　From a record level in 2013 and 2014, Norway's oil investmentsfell to just under 150 billion kroner (17 billion U.S. dollars),down about 16 percent from 2014, according to a statement issued bythe NPD, a government agency responsible for the regulation of thepetroleum resources.

　　The investments in the oil sector are expected to continue theirdecline going forward, followed by a moderate increase from 2019,the NPD said.

　　While low oil prices have given rise to considerable challengesfor the petroleum industry, significant remaining resources,combined with cost reductions and improved efficiency, can ensurecontinued high activity and future profitability, the agencysaid.

　　"Even in a demanding year, it's good to see that the oil and gasindustry is still the country's largest, with total export valuesreaching well over 400 billion kroner (45.5 billion U.S. dollars)," NPD Director General Bente Nyland was quoted as saying.

　　"It is also gratifying to see that the industry has investedsubstantial effort in increasing efficiency. This work is startingto materialise in the form of lower costs," she added. Enditem