• 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 2018
Shell has put its stakes in Draugen, Gjøa, Kvitebjørn and Valemon up for divestment. Draugen is one of Shell’s three operated producing fields on the NCS
Both Statoil’s acquisition of Martin Linge and Total’s merger with Maersk Oil were completed
Faroe has divested 13.3% share in the Fogelberg discovery to an undisclosed counterparty
CapeOmega acquired Edison's stakes in Polarled and Nyhamna of 2.4% and 1.1% respectively
Statoil management has proposed to rename the company to Equinor subject to approval at the General Assembly
High quality discovery by Aker BP in the Frosk prospect proving 30-60 MMboe oil in high quality reservoir close to Alvheim. Follow up activity expected according to Aker BP
High activity with seven ongoing wells, several with ongoing process beyond communicated dry well cases. Tethys is likely a discovery based on the ongoing appraisal side track and Balderbrå has drilled beyond its 39 days dry case
NPD resource account update revealed an increase in year-over-year reserves for comparable fields of 1.2 billion boe
Skarv, Snorre and Johan Sverdrup saw the biggest increases with combined upgrade at 536 MMboe while Valemon was yet again downgraded another 24 MMboe
For discoveries it was Lavrans and Ivory that saw the most impactful changes with significant resource upgrades at 93 MMboe and 21 MMboe respectively making both discoveries clear development candidates
Statoil approved the Askeladden phase of Snøhvit which will develop another 21 bcm of gas to help keep the Melkøya LNG facility operate at 100% capacity
Statoil is looking at developing the 1996 Nøkken discovery via Gullfaks infrastructure