The Norwegian Northern North Sea Basin is dominated by the Viking Graben structure. The basin is bound by the Central Graben to the south, the Norwegian coast to the east and the UK maritime border to the west. The 2010 discovery of the giant Johan Sverdrup oil field was an important and unexpected event, highlighting the significant undiscovered resource potential in what is a mature basin with significant infrastructure. Despite the high level of taxation in Norway and the high cost environment, both plays contribute to full-cycle value creation. This highlights the benefit of continuing to explore in a well-understood, mature basin in a period when companies are cutting discretionary spend on exploration.
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Oil and gas exploration is an industry in constant motion, from technological breakthroughs to shifting supply and demand. The high costs of finding and developing new oil and gas fields that can be commercially developed has created a challenging atmosphere, with explorers increasingly seeing low returns, low value and slow progress.
This Exploration Basin report provides a detailed analysis of exploration of this basin, including discovery and development costs, location maps and information about licensing and fiscal terms. You'll also find information about discovery and development costs and full-cycle returns.
Explorers and advisors can use this report to understand the history and potential value of this basin.
Wood Mackenzie has access to historic data for over 450 basins and forecasts for more than 125 basins. We provide accurate information on the cost of exploration compared to the value of discoveries so that you can develop profitable strategies.
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Asset report | Dec 2016
Norway Northern North Sea exploration basin
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