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:
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