Key NCS Takeaways December 2018
 

December 2018

 NCS E&P Update

RYSTAD ENERGY PRODUCT HIGHLIGHTS

•  NCSSolution: 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
December 2018

Oil production forecast
• DoD decision evolution
• Faroe-Equinor swap
 

Future Well Count

Snorre area insight

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Key NCS Takeaways December 2018 

M&A

  • Faroe Petroleum and Equinor have agreed on a swap of interest where Faroe will acquire interest around Norne, Ringhorne and Vilje in exchange for Equinor acquiring Faroe’s interest in the Njord area excluding Fenja
  • Rystad carries similar valuations for the exchanged asset shares which is consistent with the non-cash nature of the swap
  • Petrolia continued its acquisition of Flyndre by also acquiring Petoro’s 0.356% share in the unitized field

Exploration

  • The Equinor-operated, high-impact Intrepid Eagle wildcat in the Barents Sea was announced as a sizeable, but nevertheless non-commercial gas discovery
  • The NPD confirmed that the high-impact, Total-operated Jasper well in the Norwegian Sea has encountered hydrocarbons and will be further appraised to assess the resource potential

Field development

  • The Troll Phase 3 project was approved by the Ministry of Petroleum and Energy
  • Equinor has launched a boosting program at its operated Vigdis field which is expected to yield 11 million boe of additional production
  • ConocoPhillips is reported to have moved along with its Tor II redevelopment scheme as a subsea tieback to the Ekofisk complex and a combined cost estimate of NOK 6 billion

 

 

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