Resource accounts for the Norwegian continental shelf as of 31 December 2015

25.02.2016
The Norwegian Petroleum Directorate's estimate for total discovered and undiscovered petroleum resources on the Norwegian continental shelf is about 14.2 billion standard cubic metres of oil equivalents. 47 per cent of this has been sold and delivered.

It is expected that 7.6 billion Sm3 o.e remain to be produced. Of this volume, 4.7 billion are proven resources. The estimate for undiscovered resources is 2.9 billion Sm3 o.e. Undiscovered resources account for about 38 per cent of total remaining resources.

Resources is a collective term for all recoverable oil and gas. The resources are classified according to maturity in relation to development and production. The main categories are reserves, contingent resources and undiscovered resources. The volumes that have been produced, sold and delivered comprise the aggregate production.

 

Petroleum resources and uncertainty in the estimates
as per 31 december 2015

 

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Reserves

Reserves are remaining recoverable petroleum volumes for which a development decision has been made. This includes both resources where the authorities have approved a Plan for Development and Operation (PDO) and resources that the licensees (the companies in the production licences) have decided to produce, but have not yet secured the necessary consent from the authorities.

At year-end, remaining reserves amounted to 3 128 million Sm3 o.e.  Gross reserve estimates (before production is deducted), increased by 396 million Sm3 o.e. This resulted in an increase in remaining reserves of 167 million Sm3 o.e. in 2015.

Contingent resources

Contingent (conditional) resources comprise proven oil and gas for which no production decision has been made. Potential future improved recovery measures are included in this resource class. At year-end, contingent resources amounted to 1548 million Sm3 o.e. Resources that are not considered to be commercially recoverable are not included in the accounts.

Contingent resources are moved to the reserves category as they mature and the companies decide to recover the resources.

Exploration activity in 2015 yielded a resource growth estimated at 30 million Sm3 o.e. A total of 56 exploration wells were spudded, and 16 discoveries were made – six in the Norwegian Sea and ten in the North Sea. Evaluation is still under way for many of these discoveries, which means that the estimates are very uncertain.

Contingent resources in fields amount to 809 million Sm3 o.e. There was an insignificant reduction in contingent resources during 2015, just 9 million Sm3 o.e. Resources in discoveries were reduced by 382 million Sm3 o.e. to 739 million Sm3 o.e, as a consequence of discoveries 16/2-6 Johan Sverdrup and 6406/3-8 Maria having secured PDO approval. These resources can now be classified as reserves.

Undiscovered resources

Undiscovered resources comprise oil and gas that probably is in place and can be recovered, but which have not yet been proven through drilling.

The resource estimate for the undiscovered resources was updated during 2015. The volume of the undiscovered resources is estimated at 2 920 million Sm3 o.e. This is an increase of 85 million Sm3 o.e. compared with the 2014 resource accounts. Undiscovered resources account for about 38 per cent of the total remaining resources on the Norwegian shelf.

 

Total petroleum resources on the Norwegian Continental Shelf
at 31 December 2015 

Oil Gas NGL Condensate Sum o.e.
Produced 4075.4 2100.4 179.5 113.7 6630.5
Reserves* 1023.0 1856.5 116.2 28.1 3128.3
Contingent resources in fields 328.1 221.8 22.3 2.2 594.5
Contingent resources in discoveries 375.1 322.9 14.7 13.1 739.0
Possible future measures for improved recovery 155.0 60.0

215.0
Undiscovered resources 1315.0 1485.0 0.0 120.0 2920.0
Total 7271.6 6046.6 332.6 277.0 14227.3


* Includes resource category 1, 2 and 3

 
The Norwegian Continental Shelf - Changes from 2014

Change oil
Change gas Change NGL Change condensate
Change sum o.e.
Produced 90.6 117.2 9.9 2.5 229.0
Reserves* 236.7 -65.9 -0.3 -3.0 167.3
Contingent resources in fields 0.3 4.1 3.8 -0.8 10.9
Contingent resources in discoveries -357.7 -14.1 -2.8 -4.7 -381.9
Possible future measures for improved recovery -10.0 -10.0 0.0 0.0 -20.0
Undiscovered resources 50.0 35.0 0.0 0.0 85.0
Total 10.0 66.3 10.5 -6.0 90.3

* Includes resource category 1, 2 and 3

 

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Resources by sea area

 

The North Sea contains about 51 per cent of total remaining resources. The distribution of remaining resources in the Norwegian Sea and Barents Sea is approximately equal. A large share of the expected remaining resources in the Barents Sea have not yet been proven.

The North Sea is the engine in the Norwegian petroleum activities, with 65 producing fields at year-end, while the Norwegian Sea has 16 producing fields, and the Barents Sea has one (Snøhvit).

 

Remaining petroleum resources distributed by sea area
at 31 December 2015


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North Sea

The resource accounts for the North Sea show that 156 million Sm3 o.e. were sold and delivered from this part of the Norwegian shelf the past year. At the same time, growth in gross reserves, or estimates before production is subtracted, amounted to 327 million Sm3 o.e. This means that remaining reserves in the North Sea increased by 171 million Sm3 o.e. in 2015.

The increase in gross reserves can primarily be explained by the submission of PDOs for Johan Sverdrup and Oseberg Vestflanken.

Contingent resources in fields increased by 3 million Sm3 o.e. in 2015. Contingent resources in discoveries were reduced by 363 million Sm3 o.e. in relation to last year’s accounts. The reduction is due to the transfer of resources in 16/2-6 Johan Sverdrup to the field portfolio. Ten new discoveries were made in the North Sea in 2015. Resource growth from seven of these discoveries is 13 million Sm3 o.e., while three of the discoveries are not considered commercially recoverable, and are thus placed in resource category six.

The resource estimate for the undiscovered resources was updated in 2015. The expected value is estimated at 745 million Sm3 o.e. This is a reduction of 55 million Sm3 o.e., compared with last year’s accounts.

 

Total petroleum resorces in The North Sea
at 31 December 2015

Oil Gas NGL Condensate Sum o.e.
Produced 3504.5 1650.1 129.2 74.7 5474.8
Reserves* 873.8 1278.5 75.3 -0.6 2294.8
Contingent resources in fields 285.4 115.9 10.9 0.0 422.0
Contingent resources in discoveries 161.1 120.7 8.7 9.0 307.4
Undiscovered resources 455.0 250.0
40.0 745.0
Total** 5279.8 3415.2 224.1 123.1 9244.0

* Includes resource category 1, 2 and 3,

** Resources from future measures for improved recovery have not been broken down by area.

 

The North Sea - Changes from 2014

Change oil
Change gas
Change NGL
Change condensate
Change sum o.e.
Produced 72.5 72.2 5.7 0.5 156.0
Reserves* 223.3 -48.9 -0.9 -2.1 170.6
Contingent resources in fields -0.5 2.3 0.5 0.0 2.7
Contingent resources in discoveries -352.7 -4.7 -1.4 -3.1 -363.1
Undiscovered resources -75.0 5.0 0.0 15.0 -55.0
Total** -132.4 25.8 3.9 10.4 -88.8

* Includes resource category 1, 2 and 3,

** Resources from future measures for improved recovery have not been broken down by area.

 

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Oseberg A in The North Sea (Photo: Harald Pettersen, Statoil)

Oseberg A in The North Sea
(Photo: Harald Pettersen, Statoil)

 

Norwegian Sea

The resource accounts for the Norwegian Sea show that 66 million Sm3 o.e. were sold and delivered from this part of the Norwegian shelf the past year. At the same time, gross reserves, or estimates before production is subtracted, increased by 64 million Sm3 o.e.. This resulted in a reduction of 2 million Sm3 o.e. of remaining reserves in the Norwegian Sea in 2015.

The increase in gross reserves was partially caused by the Ormen Lange onshore compression project contributing to increased reserves and that the PDO for 6406/3-8 Maria was approved and transferred to the field portfolio. Contingent resources in fields increased by 11 million Sm3 o.e. during 2015. This is mainly because the Smørbukk North discovery has now been included in Åsgard and the Åsgard B low-pressure production project has been matured to a higher resource category. The estimate for contingent resources in discoveries was reduced by 20 million Sm3 o.e. in relation to last year’s accounts. This is because the resources in 6406/3-8 Maria were transferred to reserves.

Six new discoveries were made in the Norwegian Sea in 2015. The discoveries are small and total resource growth amounts to 17 million Sm3. The estimate for undiscovered resources in 2015 was reduced by 50 million Sm3 o.e.

 

Total petroleum resorces in The Norwegian Sea
at 31 December 2015

Oil Gas NGL Condensate Sum o.e.
Produced 571.0 415.0 48.5 33.1 1111.1
Reserves* 120.8 388.9 35.0 8.1 584.2
Contingent resources in fields 38.0 91.7 10.9 1.4 151.8
Contingent resources in discoveries 49.1 149.8 5.4 3.2 212.4
Undiscovered resources 320.0 410.0
45.0 775.0
Total** 1098.8 1455.3 99.7 90.9 2834.4


* Includes resource category 1, 2 and 3,
** Resources from future measures for improved recovery have not been broken down by area.

 

The Norwegian Sea - Changes from 2014

Change oil Change gas Change NGL Change condensate Change sum o.e.
Produced 18.1 39.1 3.9 1.1 65.7
Reserves* 13.5 -16.7 0.6 -0.3 -2.3
Contingent resources in fields -1.2 5.9 3.4 -0.4 10.8
Contingent resources in discoveries -22.5 7.1 -1.4 -1.9 -19.9
Undiscovered resources -5.0 -55.0 0.0 10.0 -50.0
Total** 2.9 -19.6 6.5 8.5 4.2

* Includes resource category 1, 2 and 3,

** Resources from future measures for improved recovery have not been broken down by area.

 

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Barents Sea

The resource accounts for the Barents Sea show that seven million Sm3 o.e. were sold and delivered from this part of the Norwegian shelf the past year. At the same time, gross reserves, or estimates before production is subtracted, increased by six million Sm3 o.e.. This resulted in a reduction of 1 million Sm3 o.e. in remaining reserves in the Barents Sea in 2015.

The increase in gross reserves is due to Snøhvit North being included in the reserve estimate for Snøhvit.

Contingent resources in fields were reduced by three million Sm3 o.e. compared with last year’s accounts. The reason for this is partially that the resources in Snøhvit North were matured to reserves. Contingent resources in discoveries have increased by one million Sm3 o.e. in 2015.

The undiscovered resources in the Barents Sea include volumes in the southeastern Barents Sea and the area off Jan Mayen. The new area in the north-eastern Barents Sea, following the demarcation line agreement between Norway and Russia is not included. The estimate for these resources increased this year by 130 million Sm3 o.e. for oil and 85 million Sm3 o.e. for gas.

 

Total petroleum resorces in The Barents Sea
at 31 December 2015

Oil Gas NGL Condensate Sum o.e.
Produced 0.0 35.3 1.8 5.9 44.6
Reserves* 28.5 189.1 5.9 20.5 249.3
Contingent resources in fields 4.7 14.2 0.5 0.7 20.7
Contingent resources in discoveries 164.8 52.4 0.6 0.9 219.3
Undiscovered resources 540.0 825.0
35.0 1400.0
Total** 738.0 1116.1 8.8 63.0 1933.9

* Includes resource category 1, 2 and 3,
** Resources from future measures for improved recovery have not been broken down by area.

 

The Barents Sea - Changes from 2014

Change oil Change gas Change NGL Change condensate Change sum o.e.
Produced 0.0 6.0 0.3 0.9 7.4
Reserves* 0.0 -0.3 -0.1 -0.6 -1.1
Contingent resources in fields 2.1 -4.1 -0.1 -0.4 -2.6
Contingent resources in discoveries 17.4 -16.6 0.0 0.3 1.2
Undiscovered resources 130.0 85.0 0.0 -25.0 190.0
Total** 149.5 70.0 0.1 -24.8 194.9


* Includes resource category 1, 2 and 3,
** Resources from future measures for improved recovery have not been broken down by area.

 

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