Asset report

Norway Northern North Sea exploration basin

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Report summary

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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    Norway Northern North Sea exploration basin

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Table of contents

Tables and charts

This report includes 60 images and tables including:

Images

  • Value creation versus investment (TYP)
  • Value creation versus investment (outlook)
  • Location maps: Image 1
  • Location maps: Image 2
  • Licensed exploration acreage
  • Expiry forecast of current licences
  • Gross exploration wells completed by operator
  • Net exploration wells completed by participant
  • Exploration and appraisal spend by well type
  • Exploration spend per well and average well depth
  • Drilling activity by well type
  • Cumulative exploration wells by play
  • Discoveries and success rates
  • Discoveries by license year and drilling year
  • Basin creaming curve
  • Volumes discovered by year
  • Average discovery size and volume per well by year
  • Cumulative discoveries by play
  • Cumulative volumes discovered by play
  • Brent and local oil price assumptions
  • Henry Hub and local gas price assumptions
  • Value creation, spend and volume discovered
  • Returns by drilling year
  • Breakeven price versus prospect size
  • Value creation versus investment
  • Summary and key issues: Image 3
  • Jurassic
  • Early Tertiary
  • Jurassic
  • Early Tertiary
  • Value of potential discoveries
  • Unit value of potential discoveries
  • Value of potential discoveries
  • Unit value of potential discoveries
  • Breakeven price of exploration
  • Discount rate breakeven price sensitivities
  • Breakeven price of exploration
  • Discount rate breakeven price sensitivities

Tables

  • Play level data
  • Assumptions
  • Key licence holders
  • Company success rates and discoveries
  • Key play characteristics
  • Recent discovery costs
  • Summary of discovery and development costs
  • Key basin data
  • Top discoveries (TYP period)
  • Forecast data by play (outlook)
  • Jurassic
  • Early Tertiary
  • Typical fiscal terms
  • Economic analysis: Table 1
  • Early Tertiary
  • Jurassic
  • Early Tertiary
  • Full-cycle economic analysis
  • Reserves and resources: Table 4
  • Reserves and resources: Table 5
  • Jurassic
  • Reserves and resources: Table 7

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