October 2016

NCS E&P Update

 

The Exploration Strategy Conference, organized jointly by Rystad Energy and GeoPublishing, brings together the exploration focused North Sea community to exchange expert insight, network with fellow peers and develop discussions and solutions on current industry issues. 

Date: November 1-2, 2016
Location: Stavanger, Norway  

Program

For more information,
contact Julia Weiss 


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
October 2016

• OPEC Production cut
• Cost update on projects


Future Well Count

Gjøa area insight

CONTACT

NCS@rystadenergy.com

NCS Newsletter Subscription: 

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Key NCS Takeaways October 2016

M&A

  • Aker BP entered into agreement with Tullow to acquire their 15% in the Oda discovery plus 7 exploration licenses. Oda have estimated resources of 43 million boe and will be tied back to Ula. Oda PDO is expected to be delivered in 4Q 2016.
     
  • OKEA has entered into agreement with Wintershall to acquire their 10% share in the Yme field.
     
  • DEA and Petoro have agreed to acquire equal share of Maersk’s 20% in the Dvalin field.

Exploration

  • Engie made a discovery in license PL 636 well 36/7-4 Cara located 6 km north east of the Gjøa field. The well encountered a gas column of 50 meter and oil column of 60 meter in the Agat formation with resources of 30-79 million boe.
     
  • 33 Companies applied for new exploration acreage in the APA 2016 license round that was expanded with 24 blocks in the Norwegian Sea and 32 blocks in the Barents Sea.

Field Developments

  • DEA submitted PDO for the Dvalin field with expected production start 2020. The field will be developed as a subsea tieback to Heidrun and with gas export to Polarled and Nyhamna. Reserves, mainly gas, are estimated to 117 MMboe and investments 10 BN NOK.
     
  • Statoil submitted Johan Castberg impact assessment program and plan to submit PDO in 2017 with production start in 2022. The development solution is a FPSO with oil export using tankers. The three reservoirs Skrugard, Havis and Drivis will be drained using 18 producers, 8 water injectors and 4 gas injectors. Resources are estimated at 450-650 MMboe and development investments to NOK 50-60 billion.
     
  • In the National Budget 2017 the development cost for all fields under development are under cost at PDO with Aasta Hansteen and Martin Linge with largest cost overruns.  

Please contact us regarding Rystad Energy NCS Atlas for more details.