September 2018

 NCS E&P Update

Rystad Energy's Annual Summit and Client User Meeting

Houston: September 18-19
London: October 3-4
Singapore: October 16-17

RYSTAD ENERGY PRODUCT HIGHLIGHTS

Åsgard area insight

CONTACT

NCS@rystadenergy.com

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Key NCS Takeaways September 2018 

Exploration

• Lundin has finalized 10 days production testing of well 16/1-28S Rolvsnes in fractured basement granite rocks. Next step is to do a long term production test towards Edvard Grieg. Resources upgraded to midpoint of 40 million boe
• 38 companies submitted applications in APA 2018 

Field development

• Neptune plans to sanction Cara and P1 development in Q1 2019 with production start 2020-2021
• Equinor has submitted PDO for Johan Sverdrup Phase 2 with investments of 41 billon NOK and production start 2022
• Equinor plans to pass DG2 by end of this year for Heidrun Subsea Extension Phase2, to increase recovery from the Northern part of the field
• Equinor plans to abandon Statfjord A with cessation of production in 2022. Alternatives for the concrete structure are full or partly removal or leaving entire structure offshore
• Equinor has received approval to start up Oseberg H with a new unmanned platform with investments of 6.5 billion NOK compared to PDO estimate of 8.2 billion NOK
• Equinor has received approval to start production at Aasta Hansteen with investments of 37.5 billion NOK
• Lundin ceased production early on the Brynhild field in May 2018 as reserves were downgraded from 23 million boe to 3 million boe
• Visund Nord IOR project came on stream early September with investments of 1.3 billion NOK  

Other take aways

• SSB reports offshore investments to increase by 16% from 142 billion NOK in 2018 to 165 billion NOK in 2019

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