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).
• Inpex overview
• National Budget 2018
Future Well Count
Barents Sea area insight
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Key NCS Takeaways October 2017
- Inpex has entered it’s firs license on the NCS by farm-in of 40% in license PL 767 from Bayerngas. Inpex is Japan’s largest E&P company with key producing countries Indonesia and United Arab Emirates and largest growth to come from the Australian Ichthys LNG project
- Statoil drilling campaign in the Barents Sea ended with only the small PL 532 Kayak oil discovery of 25-50 MMboe
- OMV proved up an oil column of 55 meter in PL 537 Wisting appraisal well 7324/8-1
- AkerBP drilled one appraisal and one exploration well in license PL 442 Frigg-Gamma-Delta area with the appraisal well proving up 15 meter of oil column, but exploration well being dry
- Statoil, AkerBP, Lundin and DEA have plans to drill at least 8 wells in the Barents Sea in 2018
- Statoil received approval to develop Snefrid Nord which is a subsea gas field to be tied back to the Aasta Hansteen field
- Statoil is progressing the subsea development of the Askeladden field as part of the Snøhvit and Melkøya development plan with expected production start 2021
- ConocoPhillips has received approval for revised PDO for Ekofisk Sør to increase the oil recovery. This includes installation of one template and drilling of 4 water injector wells
National Budget 2018
- Oil and gas investments of 152 BN NOK 2017
- Reduced or unchanged costs for all projects under development compared to 2017 except for Martin Linge
- All fields under development are reduced by 5% compared to PDO estimate, but Aasta Hansteen is up 12% and Martin Linge up 42%
- Corporate tax to be reduced from 24% to 23%, but the offshore special tax to increase from 54% to 55%
- Government use oil price of 55.7 USD/bbl in 2017 and 55.2 USD/bbl in 2018
Please contact us regarding Rystad Energy NCS Atlas for more details.