The shelf in 2003 - Resource accounts - increase in total resources
14/01/2004 The total resources on the Norwegian shelf seem to have increased in the course of 2003.
The preliminary resource accounts as of 31 December 2003 show an increase in total resources on the Norwegian continental shelf from 12.8 to 12.9 billion Sm3 o.e. The increase can be attributed both to additional reserves in existing fields and new discoveries. Despite the marginal increase in total reserves, there has been a considerable maturing of resources on the shelf.
In the course of 2003, 549 million Sm3 o.e. has been added to the reserves in place. At the same time, 262 million Sm3 o.e. was produced. The net addition of reserves in 2003 was 287 million Sm3 o.e. The main reason for this increase is a re-classification of the resources in 6305/5-1 Ormen Lange and a re-classification of resources for several projects on fields in production (Ekofisk, Eldfisk, Balder).
The resource accounts show that we now have 59 evaluated discoveries with an expected resource potential of 700 million Sm3 o.e. Conditional resources in discoveries have been reduced from 1 115 million Sm3 o.e. to 767 Sm3 o.e, mainly due to the resources in 6305/5-1 Ormen Lange having been re-classified as reserves.
If the production in 2003 is deducted, the estimate for the remaining proven reserves will be reduced from 5.8 to 5.7 billion Sm3 o.e.
The estimate for total undiscovered resources remains unchanged in relation to the estimate given in the Resource Report 2003.