Rystad Energy has the great pleasure of inviting you to our Annual Oil & Gas Summit 2016, which is happening in conjunction with our regular user meeting. This year our key event will take place in Houston and London. Join us to hear about our up-to-date market analyses and overview, industry perspectives and data analysis discussions.
The Exploration StrategyConference, 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
• 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 September 2016
Petoro has entered into agreement with OMV to acquire 20% share in the Dvalin (Zidane) discovery.
Tullow have decided to exit Norway and Statoil acquired 4 licenses from Tullow in the Hoop, Tromsøflaket and Norskehavet area including 20% share in the Wisting discovery. Statoil also increased ownerships in 5 licenses in the Barents Sea in the Hoop and Stappenhøyden area including deals with Point Resources, COP, OMV and DEA.
DETNOR made a discovery in well 25/2-18S Langfjellet in PL 442 located in the same license as the Frigg/Gamma/Delta discovery. The resources are estimated to 24-74 MMboe and could boost the Alvheim North development agenda.
The Government invited companies to nominate blocks for the 24 licensing round, with announcement of the round expected before summer 2017 and awards in 2018. The government decided later not to include Nordland VI and the Møreblocks due to the governments cooperation agreements.
Statoil submitted PDO for the Byrding (Astero) field with expected production start 3Q 2017. The field will be developed with a multilateral well drilled from the existing Fram H-North sub sea template that is connected to Troll C . Reserves and investments are estimated to 11 MMboe and NOK 1 billion respectively.
DETNOR, Aker Solutions and Subsea 7 have established an alliance for field developments on NCS.
NPD reports reduction of 40% in the development costs compared to 2014 for the 8 projects Utgard, Oda, Trestakk, Snilehorn, Johan Castberg, Snorre Expansion Project and Johan Sverdrup phase 2.
The Yme mobile offshore production unit (MOPU) installed on the Yme field was removed by the Pioneering Spirit vessel owned by Allseas Group SA. The legs, tank, caisson, wells and all subsea equipment is still left on the field as evaluations are ongoing to develop the field using another installation The 13.500 ton platform is planned to be dismantled at Lutelandet.
SSB Investments NCS
SSB estimates investments in 2016 of NOK 163.5 billion which 1.5% lower than reported in 2Q 2016 and 17.5% lower than the same reporting in 3Q 2014 for 2015. The estimated investments for 2017 are NOK 150.5 billion.