Recovery factor and reserve growth
The recovery factor is a measure of how large a proportion of resources originally in place can be recovered. However, reservoir properties vary considerably between fields (and parts of fields).
This means that the recovery factor is unsuitable as a measure of total recovery from the NCS, but can indicate progress by individual fields over time.
Reserve growth is a specific measure of resources decided for production and converted to reserves. It provides a better overall picture of developments than the recovery factor. In an overall NCS perspective, attention should therefore be directed at reserve growth through the development of profitable resources.
The NPD establishes specific targets for reserve growth. For 2014-23, the ambition is a growth of 1 200 million scm for oil reserves. This goal was established in 2014 and represents an extension of a corresponding target from 2005. The growth curve exceeded the target increase for the first time in 2018.
Figure 2.6 Reserve growth for oil measured against the NPD's forecasts in 2014 and the target increase.