• 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 March 2017
HitecVision via Point Resources behind the strongest rumor of being the buyer of Exxon Mobile’s assets, but other key players have also indicated interest.
93 blocks and 9 blocks in the Barents Sea and Norwegian Sea respectively included in the 24th licensing round being out for public consultation. Announcement of blocks planned for 2Q and application deadline for 4Q this year.
Statoil made a gas discovery in PL218 159B Well 6507/3-12 Mim with resources of 6-30 MMboe. The discovery is a potential subsea tie-back to Norne.
Potentially 10 new PDO’s to be submitted in 2017 with majority being subsea developments.
Aker BP is planning to submit PDO in 2017 for Snadd Phase 1 as tie-in to Skarv with Capex of 10 billion NOK also including Phase 2.
VNG and Pil & Bue has passed concept select with submission of PDO by end of 2017. The field will be developed as tie-back to Njord currently being upgraded.
Life time extensions
Statfjord A with 2 years life extension from 2020 to 2022.
Veslefrikk with 2 years life extension from 2018 to 2020.
Sigyn with 5 years life time extension from 2017 to 2022.
A tax relief for the Danish Tyra field means upgrading and extended field life, but also implying extended field life for the Trym field.
NPD Resource update
Total resources on the NCS is 90 billion boe whereof 48% has been sold and delivered. There is a total increase in resources of 0.4% compared to 2015. Top 3 resource upgrades related to Krafla area, Wisting and Njord and bottom 3 with largest resource reductions are Valemon (37% reduction), Oseberg and Afrodite.