Asset Report

Norway Northern North Sea exploration basin

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22 November 2019

Norway Northern North Sea exploration basin

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.

Table of contents

  • Key issues include:
  • Wells drilled
  • Basin success rates
  • Volumes discovered
  • Prospective resource potential
    • Creaming curve and key play data
    • Model field pool size distribution
    • Existing discoveries and modelled prospective pool size distribution
  • Prospective resource costs and underlying development assumptions
  • Licensing
  • Fiscal terms
  • Oil and gas prices
  • TYP economics
  • Outlook economics
    • Jurassic
    • Early Tertiary
    • Jurassic
    • Early Tertiary
  • Expected monetary value (EMV)
  • Play economics
  • Full cycle basin economics

Tables and charts

This report includes 55 images and tables including:

  • Commerciality index
  • Licensed exploration acreage
  • Expiry forecast of current licences
  • Key licence holders
  • Gross exploration wells completed by operator
  • Net exploration wells completed by participant
  • Company success rates and discoveries
  • Key play characteristics
  • Drilling activity by well type
  • Cumulative exploration wells by play
  • Discoveries and success rates
  • Discoveries by license year and drilling year
  • Basin creaming curve
  • Key basin data
  • Volumes discovered by year
  • Average discovery size and volume per well by year
  • Top discoveries (TYP period)
  • Cumulative discoveries by play
  • Cumulative volumes discovered by play
  • Forecast data by play (outlook)
  • Jurassic
  • Early Tertiary
  • Recent discovery costs
  • Exploration and appraisal spend by well type
  • Exploration spend per well and average well depth
  • Typical fiscal terms
  • 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
  • Jurassic
  • Early Tertiary
  • Jurassic
  • Early Tertiary
  • Full-cycle economic analysis
  • Jurassic
  • Early Tertiary
  • 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

What's included

This report contains:

  • Document

    Norway_Northern North Sea.zip

    ZIP 2.93 MB

  • Document

    Norway Northern North Sea exploration basin

    PDF 2.26 MB

  • Document

    Norway Northern North Sea exploration basin

    ZIP 4.89 MB

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