• 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).
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Key NCS Takeaways June 2018
Successful farm-in by Spirit Energy ahead of the Lille Prinsen discovery in PL167 by acquiring 20% interest from Equinor
Equinor made an oil and gas discovery of 16-35 MMboe in PL 167 Lille Prinsen well 16/1-29S located on Utsira High. The Verdandi gas discovery was also appraised without altering the resource range of 4-11 MMboe. The discovery is expected to be commercial and further studies will be made to clarify upside potential according to Equinor
AkerBP made a minor gas discovery of 12-22 in PL 659 Svanefjell well 7221/12-1. Depending on further analysis it could be the first time gas hydrates are proven on the NCS according to Aker BP
Johan Castberg approved in Parliament with resources at 558 MMboe, investments 49 BNOK and production start 2022
Equinor has extended the lifetime of Oseberg East until 2031
Equinor will drill 3 wells on Fram expected to deliver 70 MMboe and extend field life from 2023 until at least 2030
Ekofisk 2/4 VC water injection template is ready for production with 17 MMboe IOR expected to be realized
SDFI valuation 2018
Rystad Energy has performed an independent valuation of the Norwegian State’s Direct Financial Interest (portfolio managed by Petoro) for the Ministry of Petroleum and Energy
Value is estimated at NOK 1093 billion which is NOK 283 billion higher than the 2016 estimate
Additional resources, accelerated production and lower costs are the main value drivers