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16 Pages

Norway review of 2013 and outlook for 2014


Norway review of 2013 and outlook for 2014

Report summary

It was another record year for Norwegian capital investment, at US$30 billion.  This led to the first negative Norwegian tax change in 20 years.  In E&A, 60 wells drilled, the second highest on record, with two new plays opened in the Barents Sea.  Commercial M&A value traded was second only to the record set in 2012.  In 2014, US$30 billion will be spent on developments, E&A will continue apace, and M&A could hit record levels.

What's included?

This report includes 2 file(s)

  • Norway review of 2013 and outlook for 2014 PDF - 3.10 MB 16 Pages, 5 Tables, 14 Figures
  • Norway Review of 2013 Outlook for 2014.xls XLS - 566.00 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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  • Tax change
  • Exploration and appraisal
  • M&A
  • Outlook
  • Southeast Barents Sea opens to exploration
  • Jan Mayen, Lofoten and Vesterålen Islands to remain off limits
  • Record development spend
    • Majority of investment on giant producers
    • BP’s Skarv and tie-backs brought onstream
    • Significant projects sanctioned, but pressure on Polarled
    • Snorre life extended
    • Milestones reached at Johan Sverdrup and Johan Castberg
    • The first tax increase in 20 years raises concerns
    • Gassled tariff and Third Party Access changes
    • Infrastructure in the Barents Sea delayed indefinitely
  • M&A is buoyant again
    • Statoil continues to high-grade its portfolio
    • Companies buy to grow
    • Norway attracts seven new players
    • Exploration investment will remain high
    • Hot competition for frontier acreage expected
    • Record levels of spend set to continue
  • Appendix

In this report there are 19 tables or charts, including:

  • Tax change
  • Exploration and appraisal
  • M&A
  • Outlook
    • Norway review of 2013 and outlook for 2014: Image 1
    • Norway review of 2013 and outlook for 2014: Image 2
    • E&A Activity 2014-2013
    • Discoveries made in 2013
    • E&A Activity by sector in 2013
    • E&A success by sector in 2013
    • E&A Operators in 2013
    • Net discovered reserves by company
    • Licences and acreage awarded 1965-2013
    • Acreage awarded in 2013 by sector
    • Acreage awarded in 2013 by top 10 companies
  • Southeast Barents Sea opens to exploration
  • Jan Mayen, Lofoten and Vesterålen Islands to remain off limits
  • Record development spend
    • Annual development spend
    • Developments brought onstream in 2013
  • M&A is buoyant again
    • Norway review of 2013 and outlook for 2014: Image 12
    • Norway review of 2013 and outlook for 2014: Image 13
    • Norway review of 2013 and outlook for 2014: Table 3
    • Norway review of 2013 and outlook for 2014: Table 4
  • Appendix
    • Norway review of 2013 and outlook for 2014: Table 5
    • Production 2004-2024
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