The petroleum resource account as of Dec. 31, 2000

31.01.2001


Resources
The Norwegian Petroleum Directorate's (NPD's) resource account is an overview of the recoverable petroleum resources on the Norwegian continental shelf. Recoverable petroleum resources comprise both the original marketable and the remaining petroleum resources. The resource estimates are based on reports submitted annually by the operating companies, NPD evaluations for fields and discoveries and NPD estimates of undiscovered resources. On the Norwegian continental shelf the resources are classified according to profitability and maturity, see the resource classification system.

General Remarks
Total petroleum resources are estimated to 13.8 bill Sm3 oil equivalents (o.e.) with an uncertainty range of 11 to 17.5 bill Sm3 o.e. The increase in the original recoverable petroleum resources, including future measures and undiscovered resources, on the Norwegian shelf since 1999 is 448 mill Sm3 o.e.

The total remaining resources amount to 10.8 bill Sm3 o.e. with an uncertainty range from 8 to 14.5 bill Sm3 o.e. Total sales for 2000 were 249 mill Sm3 o.e. Nine new discoveries were made this year. The oil discovered, 50 mill Sm3 is not sufficient to balance last year's oil production. The discovered gas resources, approximately 95 bill Sm3, are almost twice the amount of last year's gas production.

In the North Sea the remaining reserves have increased in spite of last years production, mainly because several new fields have been approved for production. New discoveries both in the Norwegian Sea and in the Barents Sea have increased the resources in the areas. The undiscovered potential in the Norwegian Sea is upgraded some the last year. In the Barents Sea last years discoveries are important for future exploration and production.


 

 

 

 

 

Resources in Fields
As of 31 December 2000, 62 fields have been approved for development on the Norwegian continental shelf. Of these, 45 fields are in production, whereof 40 in the North Sea and five in the Norwegian Sea. Ten fields have ceased production and seven fields, whereof all in the North Sea, have approved development plans, but have not yet started production. Two fields started production in 2000, Sygna and Oseberg Sør, both in the North Sea.

The original recoverable reserves (classes 0-2) comprise 4 135 mill Sm3 o.e. of petroleum liquid (oil, NGL and condensate). 2 283mill Sm3 o.e. or 55% of these reserves have been produced. The total gas reserves are 1 937 bill Sm3 gas and by the end of 2000, 677 bill Sm3 or 35 % were produced. The total produced volumes are 3 011 mill Sm3 o.e.

The volume changes in the resource classes are mainly due to the dynamics of the classification system. Increases in reserves are due to new fields that have been approved for development. This is consequently reflected in a decrease in resource class 3 (discoveries) since 1999.

The total petroleum liquid resources related to fields have increased with approximately 388 mill Sm3 o.e. whereas the oil resources have increased with approximately 332 mill Sm3. The increased volume for gas is approximately 98 bill Sm3.

The remaining reserves and resources related to fields for liquid petroleum have increased with 188 mill Sm3 o.e. and for gas 20 bill Sm3 .

The liquid petroleum resources from planned projects (resource classes 3-6) in fields, 117 mill Sm3 o.e., correspond to approximately a year and a half of current production. The potential of possible future measures for improved recovery constitutes approximately 425 mill Sm3 of oil and 500 bill Sm3 of gas. This represents a decrease of 75 mill Sm3 of oil since 1999, which corresponds to the increase in resource class 4 (fields).

Resources in Discoveries
A total of 117 discoveries have not yet been approved for development (resource classes 3-7) and additionally 58 discoveries are reported under other fields or discoveries.

There were 9 new discoveries in 2000. They represent approximately 30-60 million Sm3 of petroleum liquid and 80 - 170 bill Sm3 of gas. A major part of the new discoveries are under evaluation and there is considerable uncertainty in the estimates.

The total recoverable resources in discoveries have been estimated to 511 mill Sm3 of petroleum liquid and 1 252 bill Sm3 of gas. The discoveries represent about 15% of the total petroleum resources.

Undiscovered Resources
The undiscovered resources have an expected value of 1 300 - 1 400 million Sm3 of oil and approximately 2 400 bill Sm3 of gas with an uncertainty range of as much as 2 to 7 bill Sm3 o.e.

The petroleum resource data that forms the basis of this Newsletter and the graphs within, are available for downloading. If utilized, please refer to the Norwegian Petroleum Directorate as the source.