More to gain

Bente-ingress-180
28.06.2017
The 50th anniversary of the start to oil and gas production from the NCS is approaching with less than half the resources recovered. Overall resources, including the estimate for those as yet undiscovered, have increased by more than 40 per cent since 1990.

Over the past two months, we have presented two reports which underline the big remaining oil and gas potential.

In our latest resource report for fields and discoveries, entitled with good reason Value for the future, we point to the huge quantities of oil and gas already proven and awaiting production.

At 31 December 2016, 77 discoveries were being assessed for development. And more can be produced from existing fields through improved recovery measures. A huge potential exists for using enhanced oil recovery (EOR) techniques.

Further details and the size of the volumes involved can be found in the resource report, which has been published at www.npd.no.

What is required to realise this value? First, the companies must take investment decisions on projects which have already been identified.

Second, the industry must collaborate to exploit existing infrastructure and adopt available technology. The NCS has been a laboratory for testing new technical solutions. It must now become a front runner in applying them.

Our report on Barents Sea North-East was published in May. New mapping of this area has doubled the earlier estimate of resources for the whole Barents Sea. This report is also available on our website. Our job is to maintain an overview of oil and gas resources across the whole NCS. So we also map areas not open for petroleum activities to provide a good factual basis for future decisions.

It goes without saying that future operations in Barents Sea North will be pursued in accordance with the Petroleum Act and the decisions taken by the politicians. Our job is to identify the potential.

 

Bente Nyland
director general