Insight
Norway upstream 2017 in review: Deals and FIDs galore, but exploration disappoints
Report summary
Norway was ahead of the game in 2017, with booming M&A; the most FIDs globally; world leading developments; and stable investment. There was some bad news, mainly in the shape of dismal results in Barents Sea exploration. We look at the main themes from 2017, including: Record M&A – who were the main movers and shakers? FIDs galore – what projects were given the green light and why? Investment – which companies spent the most? And on what projects? Exploration – was there any good news?
Table of contents
- Executive Summary
-
M&A hits US$10 billion in 2017
- The big Major and Utility sell off
- Aker BP strikes again, PE steps up and big is beautiful
- Straightforward deals and flat valuationsfor much of the year
-
Decline in investment halted
- Johan Sverdrup continued to dominate investment
- The changing face of investment
- Outstanding year for project sanctions in Norway
- Why so many FIDs in Norway?
- Project Execution – Norway shows the way
- Maria ahead of the pack
- Johan Sverdrup
-
Exploration: High-impact drilling back on the agenda but results underwhelm
- Licensing Rounds – mature vs. frontier
-
Production –record gas volumes
- Fields – more cessations than start-ups
Tables and charts
This report includes 16 images and tables including:
- Key stories for 2017
- Norwegian deals and value traded (2006-2017)
- Capex by development status 2014-2020 (by PRMS classification)
- Exploration drilling 2012-2017
- Discoveries in 2017
- Gas production
- Liquids production
- Norwegian value traded by peer group in 2017
- Selected deals involving Norwegian assets in 2017
- Top 10 assets by capital investment in 2017
- Top companies by spend in 2017 v Norwegian share of global capex
- Large FIDs globally (over 50 mmboe)
- 2017 FIDs
- Maria economics: 2015 compared with 2018
- Johan Sverdrup: Cost savings since FID
- Tops 5 in 2017– annual average production*
What's included
This report contains:
Other reports you may be interested in
Asset Report
Statfjord UK
Equinor UK operates the UK section of the giant Statfjord oil and gas field. It is located in the Tampen area, immediately north of the ...
$3,100
Insight
Global Upstream Update: the biggest issues in upstream revisited – February 2024
Key themes: supply surprises, capital discipline and M&A rollercoasters
$1,350
Insight
Continental Europe upstream: 2023 in review
Our recap of Continental Europe's key upstream themes and events in 2023
$1,350