Asset Report

Norway Central Graben exploration basin

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20 March 2019

Norway Central Graben exploration basin

Report summary

The Norwegian Central Graben is a mature basin situated in the Central North Sea. The basin is bounded by the Northern North Sea Basin to the north, the UK maritime boundary to the west and the Danish border to the south. Much of the exploration in the basin to date has focussed on the Cretaceous-Tertiary and Jurassic plays. However, the King Lear (2012) and Julius (2015) discoveries have brought increased attention to the Norwegian sector of the Mesozoic HP/HT play, which has been more widely explored in the UK portion of the basin. We forecast exploration activity will continue to focus on Upper Jurassic oil and more deeply buried HP/HT gas/condensate prospects. Creating value from exploration in the Mesozoic HP/HT play will be challenging and limited to the best performing companies. The outlook for exploration in the Jurassic play is more forgiving, however the average discovery size is modelled to by only 15 mmboe and may lack the materiality some explorers are looking for.

Table of contents

  • Key issues include:
  • Wells drilled and success rate
  • Volumes discovered
    • Play creaming curve and key play data
  • Prospective resource costs and development assumptions
  • Licensing
  • Fiscal terms
    • Mesozoic HP/HT
    • Jurassic
    • Expected monetary value
  • Full cycle basin economics

Tables and charts

This report includes 26 images and tables including:

  • Commerciality index
  • Exploration wells by play
  • Licensed exploration acreage
  • Expiry forecast of current licences
  • Key play characteristics
  • Drilling activity by well type
  • Discoveries by licence year and drilling year
  • Top discoveries (TYP period)
  • Mesozoic HP/HT
  • Jurassic
  • Summary of discovery and development costs
  • Exploration and appraisal spend
  • Typical fiscal terms
  • TYP value creation, spend and volume discovered
  • Outlook value creation, spend and prospective resources
  • Full cycle economic analysis
  • Mesozoic HP/HT
  • Jurassic
  • Unit value of potential discoveries
  • Prospect breakeven prices
  • Unit value of potential discoveries
  • Prospect breakeven prices
  • Mesozoic HP/HT
  • Jurassic

What's included

This report contains:

  • Document


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    Norway Central Graben exploration basin

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    Norway Central Graben exploration basin

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