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The shelf in 2007 - The resource accounts (preliminary figures as of 31 December 2007)

14/01/2008 There is no significant change in the overall estimate for petroleum resources on the Norwegian shelf as of 31 December 2007. The estimate is 13 billion Sm3 o.e. The accounts show relatively good growth from exploration activity and an increase in gross reserves.

There is an increase of gross oil reserves of 66 million Sm3.

Distribution of the petroleum resources by maturity, as of 31 December 2007
Distribution of the petroleum resources by maturity, as of 31 December 2007


4.8 billion Sm3 oil equivalents (o.e.) have been produced. 58 discoveries and nearly 260 projects for increased recovery, together with approved projects, will yield a portfolio of 5.0 billion Sm3 o.e. remaining, proven resources.

There has been a gross increase of the petroleum reserves in 2007 by 190 million Sm3 o.e. This increase is due to the fact that the resources in Skarv have matured to reserves, in addition to increased reserves on several fields. The largest increase in the petroleum reserves comes from the Kvitebjørn, Ormen Lange and Oseberg fields.

The gross increase in oil reserves during 2007 was 66 million Sm3. In relation to the authorities' new goal of maturing 800 million Sm3 oil to reserves by 2015, 66 million Sm3 of oil (about 413 million barrels) was listed as new reserves in 2007. The largest increase in the oil reserves comes from the Skarv, Kvitebjørn, Troll II and Oseberg fields.

 

Annual gross growth in oil reserves 1980-2007

Annual gross growth in oil reserves 1980-2007.

Updated: 14/12/2009