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.