Increased oil and gas production, robust demand and strong commodity prices led to record hydrocarbon revenues for Norway, the country’s regulator announced at its yearly “The Shelf” event on Thursday.

Historically high gas prices provided the most important contribution to the surge in revenues, according to the Norwegian Petroleum Directorate (NPD), with Statistics Norway recording revenues of Nkr79 billion (US$9 billion) from oil and gas exports in October alone.

NPD director general Ingrid Solvberg said levels of production are expected to remain strong over the next few years.