Resource report 2017 - Fields and discoveries

INGRID SØLVBERG, DIRECTOR FOR DEVELOPMENT AND OPERATIONS: Significant value remains to be extracted from the Norwegian continental shelf. In fact, the estimated resource base is the same today as it was a decade ago. To realise the full potential value, the industry must collaborate to exploit existing infrastructure and adopt available technology.

WIDE UNCERTAINTY RANGE: The amount of oil and gas which can be recovered from the NCS depends on a number of considerations. Geology, reservoir conditions, development of technology and knowledge, costs and raw material prices are important factors affecting recovery. The resource accounts build on current knowledge and Technology.

EVEN MORE TO GAIN: Large quantities of petroleum on the Norwegian continental shelf cannot be recovered profitably today. That includes immobile oil and resources in tight reservoirs. Qualifying and adopting new technology could make producing part of these assets Commercial.

MUCH TO BE DONE: Coordinated solutions, adoption of new technology and exchange of experience between players will help to increase value for new projects on fields and discoveries. Players in the petroleum industry have done good work over many years in proving resources and finding solutions which ensure that the resources can be produced.

TURN EVERY STONE: Shutting down fields and facilities forms a natural part of petroleum activities. Before production ceases, it is important that all measures which could provide profitable production have been assessed.

MAXIMISING VALUE FOR SOCIETY: The Norwegian Petroleum Directorate (NPD) works ensure that the petroleum resources yield the maximum possible value for society.