• 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 November 2016
Statoil has acquired 25% interest in the Byrding field which was recently sanctioned for development. The transaction raises Statoil’s interest to 70%.
OKEA continues its acquisitions by acquiring Aker BP’s 30% interest in the heavy oil Grevling discovery. Resources in Grevling are estimated at 49 MMboe according to NPD.
DONG has announced it wants to divest its upstream activity. DONG’s 14% interest in the Ormen Lange gas field is the most material asset on the NCS.
Total made a discovery in its Hejra 30/4-3 S exploration well. The discovery will contribute with 13-69 MMboe of additional gas/condensate resources to Martin Linge with the well completed as a development well ready to produce upon field start up.
Statoil made two minor discoveries close to Njord which could be part of the Njord future development expected to be sanctioned early 2017.
The Norwegian Sea discovery Trestakk was sanctioned for development. Statoil claims to have reduced cost from NOK 10 billion to NOK 5.5 billion for the 76 MMboe discovery. Development concept involves tie-back to Åsgard and is expected to enter production in 2019. Partners in Trestakk are operator Statoil 59.1%, ExxonMobil 33% and ENI 7.9%.
The partners in VNG operated PL586 containing the Pil discovery have selected tie-back to Statoil operated Njord as the development concept. Reusing Petrojarl Varg or a tie-back to Shell operated Draugen were also considered. Pil will as such factor into the Njord Future development expected to be sanctioned next year.