• NCSAtlas: provides monthly up-to-date information on licenses and field activities on the Norwegian Continental Shelf, including area-by-area reviews, exploration drilling activity, reserves/resources benchmarks, production profile outlooks and monthly feature topics (e.g. asset transaction).
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Key NCS Takeaways February 2018
Suncor has entered into agreement with Faroe Petroleum to acquire 17.5% in the Fenja field for USD 54.5 million and 2P reserves of 17 MMboe
Repsol has completed a transaction with Total to acquire its 7.7% interest in the Visund field with effective date 1.1.2017 including reserves of 29 million boe
Aker BP has disclosed the deal value of Pandion’s 10% acquisition in the Valhall field at USD 170 million, a premium compared to the AkerBP payment to Hess of 500 million USD for 64.05% exclusive tax loss carry forward
The new coalition government with the Conservatives, Progress and Liberal party have agreed not to do an impact assessment on the Lofoten and Vesterålen area
Wellesley is planning for an aggressive 3 well campaign in the Grosbeak area located between Gjøa and Troll C using Transocean Arctic based on 2017 APA award
Lundin revealed its view on prospectivity at Mandal High with the Oppdal/Driva prospect sporting a pre-drill estimate of 434 MMboe and a chance of success of 30%, making it perhaps the most promising exploration well for 2018
Lundin have upgraded the reserves on the Edvard Grieg field with 51 MMboe to 274 MMboe, an increased by 47% since PDO. The Alta and Gohta resources in the Barents Sea have been reduced to a range of 115 to 390 million boe from the previous 216-584 MMboe
Lundin also downgraded resources at Filicudi, the biggest discovery of 2017, to 23 MMboe from the initial range of 35-100 MMboe
Statoil has reduced Johan Sverdrup investments by 28% or 35 billion NOK to 88 billion NOK. Resource range increased to 2.1-3.1 billion boe yielding a break even of 15 USD/boe