NPD lifts estimate of Norway’s future resources

Remaining resources from Norway’s developed offshore fields and discoveries could be producing for many more decades, according to a report by the Norwegian Petroleum Directorate.

Offshore staff

OSLO, Norway – Remaining resources from Norway’s developed offshore fields and discoveries could be producing for many more decades, according to a report by the Norwegian Petroleum Directorate (NPD).

Since NPD’s 1990 assessment, the nation’s total hydrocarbon resources, including undiscovered prospects, have risen by more than 40%.

However, to maximize remaining value, the industry must share existing infrastructure and make use of available technology, the report claims.

Ingrid Sølvberg, director of development and operations in the Norwegian Petroleum Directorate, said: “We have been producing oil and gas in Norway for nearly 50 years and we are still not halfway done…We want companies with the ability and willingness to utilize new knowledge and advanced technology.”

At the beginning of the year, 77 Norwegian discoveries were under consideration for development, most located in the North Sea, although the largest are in theBarents Sea. NPD estimates combined resources at 700 MMcmoe.

In addition, nearly 850 MMcmoe could be extracted through improved recovery measures, equivalent to total output from theStatfjord field since its start-up in 1979.

This, though, presumes that companies will take positive investment decisions for their projects.

NPD also believes that deployment of emerging techniques for enhanced oil recovery could lead to production of an extra 320-860 MMcm of oil, and that these techniques could unlock large volumes of oil and gas in tight reservoirs.

Sølvberg said: “The Norwegian shelf has been a laboratory for testing new technology. We now need to become leaders with regard to using the technologies that have been developed…

“The Norwegian petroleum industry needs ambitious engineers and visionary leaders that can maintain the Norwegian shelf’s strong position within development and use of new and advanced offshore technology through good cooperation between oil companies, suppliers, and the authorities.”

06/15/2017

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