Asset Report

Verdande Area

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13 May 2022

Verdande Area

Report summary

The Verdande Area is comprised of the Verdande (previously Cape Vulture) and Alve Nord Ost oil and gas discoveries. They are located seven kilometres north of the Norne development in the Norwegian Sea. Verdande was discovered in 2017 in what is thought to be a new play in the Nordland Ridge area. The discovery was made on PL128 but is believed to extend into the adjacent PL128D. The Alve Nord Ost field was discovered in 2020 and is thought to be an extension of the Verdande discovery.If ...

Table of contents

  • Key facts
    • Summary
    • Key issues
      • Changes to the Norwegian petroleum tax system support upstream investment
      • Re-interpretation of the appraisal results has led to a reserves downgrade
  • Location maps
  • Participation
  • Geology
  • Well data
    • Future drilling
    • Historical drilling
  • Reserves and resources
  • Production
    • Key development metrics
    • Oil
    • Gas
    • Capital costs - Verdande
    • Capital costs - Alve Nord Ost
    • Operating costs - Verdande
    • Operating costs - Alve Nord Ost
  • Sales contracts
  • Fiscal and regulatory
    • Discount rate and date
    • Inflation rate
    • Oil price
    • Gas price
    • Carbon price
    • Exchange rate
    • Cash flow

Tables and charts

This report includes 42 images and tables including:

  • Key facts: Table 1
  • Index map
  • Verdande and Alve Nord Ost map
  • Participation: Table 1
  • Participation: Table 2
  • Well data: Table 1
  • Reserves and resources: Table 1
  • Production: Table 1
  • Verdande production profile
  • Alve Nord Ost production profile
  • Infrastructure: Table 1
  • Development: Table 1
  • Development: Table 2
  • Costs: Table 1
  • Costs: Table 2
  • Decommissioning costs - Verdande
  • Decommissioning costs - Alve Nord Ost
  • Costs: Table 5
  • Costs: Table 6
  • Verdande cash flow (US$ million)
  • Economic analysis: Table 2
  • Economic analysis: Table 3
  • Split of Revenues
  • Cumulative Net Cash Flow - Undiscounted
  • Cumulative Net Cash Flow - Discounted at 10% from 01/01/2022
  • Remaining Revenue Distribution (Discounted at 10% from 01/01/2022)
  • Remaining PV Price Sensitivities
  • Verdande cash flow (NKr million)
  • Economic analysis: Table 5
  • Economic analysis: Table 6
  • Alve Nord Ost cash flow (US$ million)
  • Economic analysis: Table 8
  • Economic analysis: Table 9
  • Split of Revenues
  • Cumulative Net Cash Flow - Undiscounted
  • Cumulative Net Cash Flow - Discounted at 10% from 01/01/2022
  • Economic analysis: Table 10
  • Remaining PV Price Sensitivities
  • Alve Nord Ost cash flow (NKr million)
  • Economic analysis: Table 12
  • Economic analysis: Table 13
  • Economic analysis: Table 14

What's included

This report contains:

  • Document

    Verdande Area

    PDF 5.10 MB

  • Document

    Verdande Area

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