Looking for a specific product?

Make a search for products & suppliers, articles & news.

The Shelf in 2012 – bright prospects for the Norwegian continental shelf

The Norwegian Petroleum Directorate today presented facts and figures for the Norwegian continental shelf in 2012, including updated resource accounts and activity forecasts for the next five-year period.

The Petroleum Directorate has increased its estimate of remaining resources in view of several discoveries made in recent years and improved understanding of the geology of the Norwegian continental shelf. The current estimate is 13.6 billion Sm3 of oil equivalents, an increase of 447 million Sm3 of oil equivalents on last year’s estimate. At the current oil price, this increased volume equates to NOK 1,500 billion.

“The Petroleum Directorate’s petroleum estimate shows that the Norwegian continental shelf still contains large resources that will provide a basis for stable, long-term petroleum industry activity for many years into the future,” says Minister of Petroleum and Energy Ola Borten Moe.

Activity levels in the petroleum industry will remain high, according to the Petroleum Directorate’s calculations. Investment is expected to total approximately NOK 157 billion in 2013, in addition to exploration costs of around NOK 35 billion and operating costs of about NOK 62 billion.

“The oil and gas industry is characterised by optimism and willingness to invest. This shows that the government’s long-term, predictable policy is achieving the desired results. Our coordinated focus on increased production, the development of discoveries, exploration in mature and immature areas, and the opening up of new areas is supporting both the short-term and long-term aspects of the petroleum industry,” says Minister of Petroleum and Energy Ola Borten Moe.

Read more about the results in The Shelf in 2012 on the website of the Norwegian Petroleum Directorate.

 

 

Related news

Latest news

New barge to Målsøval Fiskeoppdrett

Akva Master 320 Classic is a modern feed barge optimized for efficient operations.

Supply chain management survey indicates greater pressure on companies to demonstrate sustainability

Companies are struggling to take efficient action across their supply chains, while facing increased demands from stakeholders.

From stamp to screen: DNV GL issues over 50,000 electronic certificates

Since the launch in mid-October 2017, DNV GL has issued approximately 50,000 certificates, 

THERMO-TRANSIT FURTHER STRENGTHENS THE COMPANYS GROWTH

THERMO-TRANSIT FURTHER STRENGTHENS THE COMPANYS GROWTH BY APPOINTING JESPER HANSEN AS CHAIRMAN AND JAKOB HOLM AS CEO.

New Zealand Navy turns to Vestdavit for hands-on experience

Since 2000, Vestdavit has supplied 14 davits for seven NZ Navy vessels.

DNV GL and AEP Ohio win Energy Award for helping new energy efficient technology in ultra-low temperature freezers reach the market

Stirling ultra-low temperature freezers now ENERGY STAR certified

New 4K Displays Enable Cutting-Edge Multi-Data Fishing Vessel Bridge Solution from Furuno Norway

Newbuild Danish trawler 'Gitte Henning' first to benefit from large-format, ultra high definition bridge display innovation.

New DNV GL class notations aim to improve stern tube bearing performance

In the “Shaft align” class notations and the revised main class requirements for single stern tube bearing installations,

DNV GL provides due diligence to institutional lenders for investment in 659 MW Walney offshore wind project

Through DNV GL’s technical assessment to the group of lenders,