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Norway oil and gas production: review of 2013; outlook for 2014


Norway oil and gas production: review of 2013; outlook for 2014

Report summary

Liquids production in Norway will remain flat over the next five years, having been in decline since 2001.  In 2013, the decline slowed to 4%, the lowest rate since 2008.  Gas production in 2013 was 10.5 bcf/d; down 5% compared with 2012. It is expected to increase 9% by 2018, but this will depend on the delivery of key projects on-time. A number of these are facing uncertainty, due to the impact of the 2013 tax change on already marginal projects.


What's included?

This report includes 2 file(s)

  • Norway oil and gas production: review of 2013; outlook for 2014 PDF - 579.15 KB 6 Pages, 1 Tables, 5 Figures
  • Norway oil and gas production review 2013.xls XLS - 812.00 KB

Description

This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

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  • Lowest decline in liquids production for five years
    • Decline slowed as redevelopment projects bear fruit
  • Gas production
    • Maintenance disruptions at large gas fields
  • Production outlook is positive
    • New fields due onstream in 2014
    • Over the next five years, several developments are expected onstream that will have a positive impact on production. The largest gas field expected onstream is Aasta Hansteen in the Norwegian Sea. It will produce 380 mmcfd in 2018. The largest liquids producer to be brought onstream in that timeframe will be Edvard Grieg, which will produce 90,000 b/d at peak levels.
    • Delivering timely projects is key
    • Project value could reduce investment

In this report there are 6 tables or charts, including:

  • Lowest decline in liquids production for five years
    • Norway oil and gas production: review of 2013; outlook for 2014: Image 1
    • Norway oil and gas production: review of 2013; outlook for 2014: Image 2
  • Gas production
    • Norway oil and gas production: review of 2013; outlook for 2014: Image 3
    • Norway oil and gas production: review of 2013; outlook for 2014: Image 4
  • Production outlook is positive
    • Norway oil and gas production: review of 2013; outlook for 2014: Image 5
    • Norway oil and gas production: review of 2013; outlook for 2014: Table 1
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