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Norway upstream: 2015 in review

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Report summary

Activity in the normally buoyant Norwegian sector slumped in 2015 as companies made the transition to the 'lower for longer' oil price environment. While exploration levels continued apace both investment and M&A deals plummeted. Highlights included strong interest in the 23rd round work getting underway at Johan Sverdrup and six fields being brought onstream helping production reach its highest level for five years.

What's included

This report contains

  • Document

    Norway upstream: 2015 in review

    PDF 1.52 MB

  • Document

    Norway Review of 2015.xls

    XLS 683.50 KB

Table of contents

Tables and charts

This report includes 30 images and tables including:

Images

  • Annual success and discovery rates (1966-2015)
  • E&A activity 2005 – 2015
  • Change in exploration activity, 2014 - 2015
  • Change in appraisal activity, 2014 - 2015
  • Operated success rate in 2015
  • Change in drilling activity by company, 2014-2015
  • Acreage and licences awarded in APA rounds
  • Licences and acreage awarded: 1995-2015
  • Historical capital investment
  • Top 10 companies by capital investment 2015
  • Investment by sector
  • Delays and increasing capital costs on selected projects
  • FID delay on selected projects
  • 2015 E&A activity by basin
  • 2015 E&A success by basin
  • Top 10 projects by capital investment 2015
  • Drilling capex vs. wells drilled
  • Oil price vs. FX rate
  • Annual operating costs
  • Total production (2006 – 2015)
  • Top 10 liquids producing fields
  • Top 10 gas producing fields
  • Average monthly liquids production (2010 – 2015)
  • Norwegian commercial reserves traded and valuation* (2005 - 2015)
  • Number of new entrants on the NCS (2005 - 2015)
  • Change in value (US$M) – top 10

Tables

  • Discoveries made in 2015
  • Developments brought onstream in 2015
  • Developments that reached FID in 2015
  • Key deals involving Norwegian assets in 2015

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