Oil companies exploring for oil and gas off Norway are expected to spend 29.1 billion kroner ($4.05 billion) turning the drill bit in 2009, a view 600 million kroner ($83.5 million) more pessimistic than the just months earlier.

The news affirms views expressed by top oil industry leaders Tuesday night. Yet the crimped exploration activity won’t keep overal spending in 2009 from rising 12.7 billion kroner ($1.77 billion over recent estimates to 145.5 billion kroner ($20.26 billion). The numbers come from a fresh survey of oil company planning taken by Statistics Norway before endless speculation and some “soul searching” over changing fortunes.

Modifications and adjustments are said to account for the bulk of the increase, and the statistics maker qualified their report by saying it was largely compiled “before the financial crisis’ impact on the oil market had materialized”.

“There is reason to believe that the oil companies’ flexibility regarding investments next year are bound by already signed contracts with subcontractors,” the national record-keeper said.

The new forecast is likely to fire up talk of general economic and supply company health in oil-dependent Norway.

The report comes after weeks of grilling for Oil Minister Terije Riis Johansen over cancelled projects, plus warnings from StatoilHydro leaders about “cost storms” combining with credit woes and oil prices to delay projects.

In the interim, investments on existing installations are set to rise to 108.4 billion kroner ($15.1 billion), up 12.8 billion ($1.78 billion) over forecasts made just weeks ago.

On the bright side, New Year’s Eve will cap a year in which 25 billion kroner was spent looking for oil and gas in Norway — 5.8 billion kroner ($807 million) more than what had been forecast late in 2007.

Tags: ConocoPhillips, StatoilHydro