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Norway upstream 2016 in review: cost cuts, FIDs and big deals

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Report summary

Norway s upstream sector continued to feel the pain of low oil prices in 2016. Investment fell to a ten year low exploration results were disappointing and large final investment decisions (FIDs) continued to be deferred. But there were rays of light. Companies were able to significantly cut costs production remained high and M&A activity rose

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    Norway upstream 2016 in review: cost cuts, FIDs and big deals

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Table of contents

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Tables and charts

This report includes 20 images and tables including:

Images

  • E&A drilling 2012-2016
  • Volumes discovered & average discovery sizes
  • Norwegian Barents Sea 23rd Round awards
  • Drilling costs and average well depths
  • Drilling efficiencies
  • Historical capital investment (2007 – 2016)
  • Top 10 assets by spend in 2016
  • Top companies by spend in 2016 v Norwegian share of global capex
  • Indicative cost deflation
  • Indicative cost deflation by category
  • Estimated breakeven price for projects that reached FID in 2016
  • Norway upstream 2016 in review: cost cuts, FIDs and big deals: Image 12
  • Top 10 assets by liquid production
  • Top 10 assets by gas production
  • Norway upstream 2016 in review: cost cuts, FIDs and big deals: Image 15
  • Deal activity 2006 to 2016

Tables

  • Discoveries in 2016
  • Developments brought onstream in 2016
  • Norway upstream 2016 in review: cost cuts, FIDs and big deals: Table 3
  • Key deals involving Norwegian assets in 2016

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