Insight
Commercialising Johan Castberg's 580 million barrels of Arctic oil
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Report summary
Marginal economics have led operator Statoil to review the development concept at the 580 million barrel Johan Castberg Area. An inability to commercialise such a large Arctic development could be detrimental to future activity in the area. Lower than expected reserves have resulted in a post-tax internal rate of return (IRR) of only 10.4%. This is below the average 17% IRR Wood Mackenzie expects Statoil to achieve from their future probable developments.
Table of contents
- Executive Summary
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Marginal economics & exploration disappointment
- Johan Castberg Area
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Focus on cost reduction – the alternative development scenarios
- Development scenario metrics
- Development scenario results
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Results and next steps
- Statoil's probable projects with Capex over US$1 billion
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Appendix
- Definition of probable development
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Economic assumptions
- Cash Flow
- Discount rate and date
- Inflation rate
- Oil price
- Gas price
- Carbon price
- Exchange rate
- Fiscal terms
Tables and charts
This report includes 4 images and tables including:
- Commercialising Johan Castberg's 580 million barrels of Arctic oil: Image 1
- Commercialising Johan Castberg's 580 million barrels of Arctic oil: Image 2
- Commercialising Johan Castberg's 580 million barrels of Arctic oil: Image 3
- Commercialising Johan Castberg's 580 million barrels of Arctic oil: Image 4
What's included
This report contains:
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