News, Oil & Gas

Oil&Gas: Record activity in 2013

A record number of fields are in operation on the Norwegian shelf. Discoveries in 2013 offset roughly half of what was produced in the same year, the Norwegian Petroleum Directorate reports.

An unprecedented number of wildcat wells were drilled, and the number of exploration wells recorded was the second highest ever.

Twenty new discoveries were made in 2013, which is seven more than in the previous year. Once again, exploration activity was highest in the North Sea where a total of seven oil and gas deposits were proven. Eight discoveries were made in the Norwegian Sea, and five in the Barents Sea. The resources in the new discoveries amount to between 50-106 million standard cubic metres (Sm3) of oil and between 30-58 billion Sm3 of recoverable gas.

 

To read more, please visit The Norway Post here.