NCS E&P Update
 

November 2017

 NCS E&P Update

RYSTAD ENERGY PRODUCT HIGHLIGHTS

• 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).

NCSAtlas Insights
November 2017

• Aker BP-Hess
• Brent-WTI spread

Future Well Count

Gjøa area insight

CONTACT

NCS@rystadenergy.com

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Key NCS Takeaways November 2017 

M&A

  • Total has entered into agreement with Engie to acquire its portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of $1.49 billion. This portfolio includes participating interests in liquefaction plants, notably the interest in the Cameron LNG project in the US, long term LNG sales and purchase agreements, an LNG tanker fleet as well as access to regasification capacities in Europe. Additional payments of up to $ 550 million could be payable by Total in case of an improvement in the oil markets in the coming years.

  • AkerBP has entered into agreement with Hess to acquire Hess Norge AS including 64.05% in Valhall and 62.5% in Hod 62.5% for USD 2.0 million including tax loss carry forward with a net nominal after–tax value of USD 1.5 billion.

  • CapeOmega has entered into agreement with Shell to acquire 9,02% in Polarled gas pipe and 3% of Nyhamna gas plant.

  • CapeOmega has also entered into agreement with Njord Gas Infrastructure for the acquisition of 100% of the shares in Njord Gas Infrastructure Holding AS including 8.036% in Gassled JV.

  • Point Resources agreement with ExxonMobil to take over operated fields Balder, Ringhorne and Jotun was approved by government, but Point Resources need to get a partner in the Balder Field within 2 years.

Exploration

  • New wells reported north of Johan Sverdrup (PL167) and Aasta Hansteen (PL847) to be drilled early 2018 by Statoil and Wintershall respectively

Field Developments

  • Statoil sanctioned Fram IOR project of 1 BN NOK including installation of a gas module at tie-in hub Troll C.
  • First Johan Castberg contract awarded to Sembcorp for the construction of FPSO hull and living quarters at a value of NOK 4 billion

 

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