Seventy-seven discoveries on Norway’s Continental Shelf containing 700 MMcum were being considered for development at the start of 2016, the Norwegian Petroleum Directorate (NPD) reports.
Most of these discoveries are in the North Sea, but the largest discoveries lie in the Barents Sea, according to the 15 June report, Values for the future, the NPD’s 2017 resource report.
NPD estimates an additional 850 MMcum in resources can be produced through improved recovery methods, assuming companies make investment decisions for projects already identified.
Technical potential for substantial oil and gas volumes also have been identified. Advanced methods of enhanced oil recovery could allow between 320-860 MMcum to be recovered. New technology also could unlock vast volumes of oil and gas in tight reservoirs.
Since 1990, total resources, including the estimate for undiscovered resources, have grown by over 40%. In fact, more resources than NPD expected overall in 1990 have been proven. To extract all resources, the oil and gas industry must cooperate on using existing infrastructure and available technology.
“The authorities expect that all resources that contribute to values for society will be produced, not just the ‘easy barrels’. This requires us to maintain strong expert communities and develop and apply new technology,” said Ingrid Sølvberg, NPD’s director of development and operations, in a 15 June press statement.
“The Norwegian shelf has been a laboratory for testing new technology. We now need to become leaders with regard to using the technologies that have been developed. We have a strong offshore technology environment in Norway. Let’s make sure this is also maintained in the future,” Sølvberg stated.
Sølvberg added that the Norwegian petroleum industry needs ambitious engineers and visionary leaders that can maintain the Norwegian shelf’s strong position within development and use of new and advanced offshore technology through good cooperation between oil companies, suppliers and the authorities.
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