Insight
Norway review of 2013 and outlook for 2014
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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.
Table of contents
- 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
Tables and charts
This report includes 19 images and tables including:
- 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
- Annual development spend
- Norway review of 2013 and outlook for 2014: Image 12
- Norway review of 2013 and outlook for 2014: Table 5
- Production 2004-2024
- Developments brought onstream in 2013
- 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
What's included
This report contains:
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