Asset Report

UK Northern North Sea exploration basin

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06 April 2021

UK Northern North Sea exploration basin

Report summary

The basin is mature with an average discovery size of just 14 mmboe over the last decade, and prospective resource is just a tiny fraction of discovered volumes. Despite most of the volumes discovered being commercial, cost overruns and delays have plagued development, resulting in significant full-cycle value destruction over the last decade. However, exploration performance has improved since 2015 and provides reason to be optimistic; the average discovery size has increased, and a larger proportion of volumes is considered commercial. This has helped push returns above 10% in 2015 and 2018.

Table of contents

Tables and charts

This report includes 13 images and tables including:

  • Mesozoic
  • Summary of discovery and development costs
  • Typical fiscal terms
  • Brent and local oil price assumptions
  • Exploration wells by play
  • Key play characteristics
  • Exploration history map
  • Top 10 discoveries
  • Key licence holders
  • Creaming curve
  • Discoveries and success rates
  • Mesozoic
  • Full cycle economic analysis

What's included

This report contains:

  • Document

    UK Northern North Sea exploration basin

    PDF 1.52 MB

  • Document

    UK Northern North Sea exploration basin

    ZIP 3.76 MB