Resource accounts and analysis

Resource accounts for 2023

One of our most important tasks is to maintain an overview of all of the petroleum resources on the Norwegian continental shelf. The objective is to ensure that the resources are managed in the best interests of the Norwegian society.

We collect and analyse data from the operating companies on the shelf and compares this with its own data and forecasts. This information is an important management tool for the oil sector, and provides fundamental terms for developing the Government's budgets and oil policies.

Each autumn all operating companies submit data and forecasts for their fields, discoveries and transport systems. The companies report both the resources in place and the recoverable resources in the individual fields and discoveries, and indicate high and low estimates for these resources.

Assure quality

The recoverable petroleum resources are classified according to our system, which groups them by maturity or status in relation to decisions made in the production licence. The companies also report forecasts for production, costs, and emissions and discharges to the environment.

We check and quality-assure this data. We also prepare our own estimates for some fields and discoveries, and classify these resources based on our own assumptions. The final product of this work is a set of resource accounts, released by the us each year. The accounts show produced volumes, remaining proven recoverable volumes and our estimates of the undiscovered petroleum resources on the Norwegian shelf.

Revised national budget

The resource accounts also form the basis for our input to the revised national budget (RNB). Prior to the end of each year, we prepare a comprehensive listing of all resources, with associated forecasts for production, costs and emissions/discharges.

This data is forwarded to the Ministry of Energy, and from there on to the Ministry of Finance. The data comprises an important prerequisite for the Government's budget, as well for national oil and environmental policy.

The Norwegian Offshore Directorate also publish a resource report every other year which provides a comprehensive summary of the situation on the Norwegian shelf. In addition to the resource accounts, it provides an overview of exploration and production activities, forecasts for undiscovered resources and scenarios for future development of the Norwegian continental shelf.