OSLO, Norway – Around 8 bcmoe remains to be produced throughout the Norwegian continental shelf, according to the Norwegian Petroleum Directorate (NPD).
This is around 19 times the volume likely to be produced from the Johan Sverdrup field in the central Norwegian North Sea.
The NPD estimates total proven and unproven petroleum resources on the shelf at 15.8 bcmoe, 28 MM more than at year-end 2019.
Last year, Norwegian fields produced a total of 229 MMcmoe.
In the North Sea, gross reserves have increased by 71 MMcmoe before production is deducted, with total reserves at the end of 2020 estimated at 2,023 MMcmoe.
Equinor’s Breidablikk field provided the largest contribution to the gross reserves increase. In addition, reserves on Aker BP’s Hod have risen following the company’s submission of a PDO for a redevelopment of the field.
Other reserves increases relate to the Edvard Grieg, Sleipner Vest and Statfjord fields, but there was a reduction on Valhall.
During 2020 companies discovered eight new fields in the Norwegian North Sea, with collective resources of close to 22 MMcmoe.
In the Barents Sea, year-end reserves were lower at 276 MMcmoe, mainly due to a downgrade of resources from Equinor’s Snøhvit gas-condensate field following an update of the reservoir model.
The NPD has raised its estimate for contingent resources in discoveries in the Norwegian Sea by 31 MMcmoe compared with the 2019 estimate. Last year’s seven discoveries in the region included the two largest discoveries across the shelf.
Estimated resources from these finds are 54 MMcmoe.