It was another record year for Norwegian capital investment at US$30 billion. This led to the first negative Norwegian tax change in 20 years. In E&A 60 wells drilled the second highest on record with t wo new plays opened in the Barents Sea. C ommercial M&A value traded was second only to the record set in 2012. In 2014 US$30 billion will be spent on developments E&A will continue apace and M&A could hit record levels.