Key NCS Takeaways October 2018
 

October 2018

 NCS E&P Update

RYSTAD ENERGY PRODUCT HIGHLIGHTS

NCSSolution: 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 2018

• Wintershall-Dea merger
• National budget update
 

Future Well Count

Norne area insight

CONTACT

NCS@rystadenergy.com

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Key NCS Takeaways October 2018

 

M&A

  • Wintershall and DEA are set to merge after the final agreement was signed. The new entity will have a 2018 production of around 140,000 barrels of oil equivalents per day (boepd) in Norway with a global production north of 600,000 boepd
  • Lundin and Equinor have agreed to harmonize Edvard Grieg and Luno II partnerships via Lundin’s acquisition of 15% in Luno II and Equinor receiving compensation in cash and 20% share of the PL825 Rungne prospect
  • Chevron has exited the NCS by divesting its PL859 license share to DNO. This follows similar divestments in Denmark and the UK signaling the exit of the supermajor from the Northwest Europe basin

Exploration

  • Lundin announced a successful Alta long-term production test which likely has derisked and advanced project development of the challenging karstified carbonate reservoir. An operator resource update expected in early 2019
  • Equinor announced a successful  appraisal of the Cape Vulture discovery  increasing  mid-point  resources from 50 to 60 million boe. Development will  likely  be as a tie-back to the Norne FPSO

Field development

  • The Nova PDO has been approved
  • The National Budget update has revealed a further NOK 5 billion cost overrun at the Martin Linge project with start-up now estimated in Q1 2020 versus the original Q4 2016 estimate

 

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