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Offshore Exploration & New Field Developments – Norway

Offshore activity on the Norwegian Continental Shelf is continuing to recover. Spurred by recent exploration successes and a significant improvement in oil prices since January 2016, activity is likely to remain steady through 2017 with an ongoing push in exploration and appraisal drilling in the Barents Sea. A new licensing round for 2017 will bring further activity to the Barents Sea over the next few years, with the blocks on offer almost exclusively located there. In the next ten years, over $60 billion has been sanctioned on Norwegian projects. The North Sea sees the main investment over the next four years before Barents Sea investments gather pace from 2021. We also expect to see more Norwegian projects progressing to their planning and development phases, whilst a roster of new field developments is expected to begin production between 2019 and 2021. This report examines the visible future activity for the Norwegian Continental Shelf. Download Abstract & Contents...

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by Alexander Wilk // 19 July, 2017

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