Rystad Energy has the great pleasure of inviting you to our Annual Oil & Gas Summit 2016, which is happening in conjunction with our regular user meeting. This year our key event will take place in Houston and London. Join us to hear about our up-to-date market analyses and overview, industry perspectives and data analysis discussions.
The Exploration StrategyConference, organized jointly by Rystad Energy and GeoPublishing, brings together the exploration focused North Sea community to exchange expert insight, network with fellow peers and develop discussions and solutions on current industry issues.
Date: November 1-2, 2016 Location: Stavanger, Norway
• 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).
NCSAtlas Insights August 2016 • Recent transactions • YTD summary of activity
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Key NCS Takeaways August 2016
Faroe and Dong has entered into an agreement where Faroe will acquire Dong’s interest in Ula (20%), Tambar (45%), Tambar East Unit (37.8%, Oselvar (55%) and Trym (50%) for a consideration of USD 70.2 million. Tax balances at a value of US$ 84 million is included in the deal. Based on Rystad numbers the transaction includes 2P reserves of 24 million boe implying a transaction price of 2.9 USD/bbl including tax balances. The portfolio acquired has a break even oil price of 46 USD/bbl.
OKEA and OMV have completed a transaction where OKEA has acquired OMV’s interest (0.554%) in the Ivar Aasen field. The net 2P reserves to OKEA is estimated to 1 million boe at a base case value of 10 million NOK. The consideration is not disclosed.
Statoil made a discovery in well 30/11-14 and 30/11-14 B (Slemmestad/Haraldsplass) in PL 272 located 25 kilometer south west of Oseberg Sør. The reserves are estimated to 19-44 million boe. Statoil has drilled 6 wells in this area in 2016 and have made discoveries in 5 out of 6 wells. According to Statoil the drilling campaign has resulted in about 50 MMboe of additional resources in the Krafla/Askja area which will be evaluated for a potential field development.
Statoil submitted PDO for the Utgard field with expected production start 2019. The field is a gas condensate field and will be developed as a subsea field with two wells tied back to Sleipner. The equipment is placed on the Norwegian side of the border, but one of the wells will penetrate the reservoir on the UK side. The development cost is estimated to NOK 3.5 billion and 2P reserves are 56.4 million boe.