Asset report

UK Northern North Sea exploration basin

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Report summary

The basin is mature with an average discovery size of just 20 mmboe over the last decade and yet to find resource is just a tiny fraction of discovered reserves.Despite most of the volumes discovered being commercial cost overruns and delays have resulted in negative full life development value for several discoveries. Combined with the cost of exploration this has resulted in significant full cycle value destruction of over the last decade.Statoil will be an explorer to watch in 2017 when it plans to drill the Jock Scott prospect in licence P2097.

What's included

This report contains

  • Document

    UK Northern North Sea.zip

    ZIP 2.20 MB

  • Document

    UK Northern North Sea exploration basin

    PDF 810.73 KB

  • Document

    UK Northern North Sea exploration basin

    ZIP 2.92 MB

Table of contents

  • Key facts
  • Summary and key issues
  • Location maps
  • Participation
  • Geology
  • Exploration
  • Reserves and resources
  • Development
  • Costs
  • Fiscal and regulatory
  • Economic analysis

Tables and charts

This report includes 39 images and tables including:

Images

  • Value creation versus investment (TYP period)
  • Value creation versus investment (outlook)
  • Exploration history map
  • Exploration wells by play
  • Licensed exploration acreage
  • Expiry forecast of current licences
  • Exploration and appraisal spend
  • Exploration spend per well and average well depth
  • Commerciality index
  • Drilling activity by well type
  • Cumulative exploration wells by play
  • Discoveries and success rates
  • Discoveries by licence 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
  • TYP value creation, spend and volume discovered
  • Outlook value creation, spend and YTF volumes
  • Mesozoic
  • Mesozoic
  • Unit value of potential discoveries
  • Prospect breakeven prices

Tables

  • Key play data
  • Assumptions
  • Price assumptions
  • Key play characteristics
  • Recent discovery costs
  • Summary of discovery and development costs
  • Key basin data
  • Top discoveries (TYP period)
  • Forecast data by Play (outlook)
  • Mesozoic
  • Typical fiscal terms
  • Mesozoic
  • Mesozoic
  • Full cycle economic analysis
  • Reserves and resources: Table 4

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