Insight
| |
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.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research.

Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in upstream commercial data and analysis.

  • 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
Requester's name : .............
Department : .............
Authoriser's Name : .............
Authoriser's signature : .............
Date : .............
Cost Centre : .............

Questions about this report?

Frequently Asked Questions

Mailenquiries@woodmac.com
  • Europe: +44 131 243 4699
  • Americas: +1 713 470 1900
  • Asia Pacific: +61 2 8224 8898
contact us

Why Wood Mackenzie?

Wood Mackenzie, a Verisk Analytics business, has been a trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, empowering clients to make better strategic decisions with objective analysis and advice.

We work across every sector of oil, gas, power, renewables, chemicals, metals and mining, covering more than 150 countries. Our proprietary data and models are at the core of everything we do, ensuring our independent asset and company valuations are thoroughly robust and that we offer an accurate forward-looking view of economic indicators such as market supply, demand and price trends.

Our 500+ analysts are based in the regions they cover, cultivating an unrivalled depth of understanding to help clients accurately identify new opportunities, define their strategy and improve business performance.

At every stage, our teams readily collaborate and share their insight to provide an integrated perspective across entire industries. It is this unique and rigorous analytical approach that ensures we are recognised as the industry standard by the world’s most innovative organisations.