The Norwegian Petroleum Directorate's estimate of total proven and unproven petroleum resources on the Norwegian continental shelf is about 15.7 billion standard cubic metres of oil equivalents.
This is 104 million more than as of 31 December 2018. Forty-eight per cent of the resources have been sold and delivered. About 48 per cent of the remaining resources have not yet been proven.
The combination of high production of oil and gas from a total of 94 fields, significant demand and high commodity prices led to a historically high level on the State's export revenues from petroleum. Much of this is due to record-high gas prices.
The Ministry of Petroleum and Energy has received applications from five companies in connection with the announcement of two areas associated with injection and storage of CO2 on the Norwegian continental shelf.