North Sea still holds majority of Norwegian petroleum resources

The Norwegian Petroleum Directorate estimates Norway’s total proven and unproven petroleum resources at around 14.3 bcmoe.

Petroleum resources and estimate uncertainty per Dec. 31, 2016
Petroleum resources and estimate uncertainty per Dec. 31, 2016

Offshore staff

OSLO, Norway – The Norwegian Petroleum Directorate estimates Norway’s total proven and unproven petroleum resources at around 14.3 bcmoe.

Of this, 6.9 bcmoe (48%) have been sold and delivered, and of the 7.4 bcmoe remaining, 4.6 bcmoe are proven resources.

Unproven resources, estimated at 2.9 bcmoe, account for around 39% of remaining resources.

TheNorth Sea contains roughly 51% of what remains, with the rest spread equally across the Norwegian Sea and Barents Sea.

Much of the anticipated resources in the Barents Sea have not yet been proven.

At the end of last year, Norway had 62 producing fields in theNorth Sea, 16 in the Norwegian Sea, and two in the Barents Sea.

02/24/2017

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