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12/01/2006 There has been no significant change in the total estimate of petroleum resources on the Norwegian continental shelf as of 31 December 2005. However, there has been a substantial maturing of the resources on the shelf.
4.3 GSm3 oil equivalents (billion Sm3 o.e.) have been produced as of 31 December 2005. 54 discoveries and more than 200 projects for improved recovery yield a portfolio of 5.4 GSm3 o.e. remaining proven resources.
There has been a significant increase in gross reserves in 2005. The increase in gross gas and liquid reserves amounts to 281 MSm3 oil equivalents (million Sm3o.e.). Submission of the Plan for Development and Operation (PDO) for Tyrihans, approval of the amended PDO for Statfjord (Statfjord late life) and added reserves on Kristin are the largest contributors to this increase. About 163 MSm3 o.e are the result of approval and submission of development plans, as well as reserves that the licensee groups have decided to develop. The remaining 118 MSm3 o.e come from increased reserves in several fields, in part as a consequence of approval of contingent resources in fields.
The gross increase in oil reserves during 2005 was 155 MSm3 - or almost one billion barrels. This constitutes 19 percent of the NPD's goal of achieving five billion new barrels of oil reserves by 2015. The 2005 increase is the highest in five years.
The condensate reserves were reduced by 31 MSm3 o.e. as a consequence of the fact that the Kristin, Mikkel and Åsgard fields will sell condensate reserves as oil from 1 July 2006. (Halten Blend).
The estimate of total undiscovered resources is unchanged compared with last year's estimate.
Contact in the NPD:
Eldbjørg Vaage Melberg, tel. +47 51 87 61 00