Gulf Oil and Gas accountACCOUNT

NPD Doubles Resource Estimate for the Barents Sea

Source: www.gulfoilandgas.com 4/25/2017, Location: Europe

Share |
According to the Norwegian Petroleum Directorate’s new calculations, the undiscovered oil and gas resources in the Barents Sea are twice as large as previously assumed. The Norwegian Petroleum Directorate has recently mapped the eastern part of the northern Barents Sea – an area of about 170,000 square kilometres, 10,000 square kilometres larger than the Norwegian part of the North Sea. A large part of this is located in the previously disputed area, and most of the new information has been collected after the demarcation line agreement with Russia entered into force in the summer of 2011.

The share of undiscovered resources in the Barents Sea has thus been increased from 50 to nearly 65 per cent of the total undiscovered resources on the Norwegian shelf. The resources in the new area are estimated at 1.4 billion standard cubic metres of oil equivalents. This is equivalent to 14 Johan Castberg fields, and more than five times the Snohvit field.

“This figure is naturally associated with some uncertainty. It could turn out to be lower or it could be much higher,” says Director General Bente Nyland, adding that about 60 per cent of the resources are likely liquids, and the rest is gas. The expected total resources are about the same in the mapped part of the northern Barents Sea as in the southern Barents Sea, but the northern part is only half the size of the southern part.

“This means that the mapped area in the north has about twice the resource potential per square kilometre as the southern Barents Sea,” says Nyland.

Since 2012, the NPD has worked on an assignment from the Norwegian Parliament to map the Norwegian sea area in the eastern part of the northern Barents Sea. The area has not been opened for petroleum activities.

The updated map of the northern Barents Sea shows an exciting landscape that consists of basins, platforms and highs. According to Nyland, ridges are most important from a geological viewpoint. Good examples are the Utsira High in the North Sea and the Loppa High in the southern Barents Sea. The Utsira High is home to Johan Sverdrup and several other fields, and oil has been discovered, so far, in the Alta and Gohta prospects on the Loppa High.

“In the northern part of the Barents Sea it is particularly the Storbank high, the Sentralbank high and the Kong Karl platform that we consider promising,” concludes the Director General.

Geological, Geophysical News in Norway >>

Austria >>  7/17/2017 - Based on the first forecast for demand and non-OPEC supply (including OPEC NGLs and non-conventional oil) for the year 2018, the demand for OPEC crud...
United Kingdom >>  7/17/2017 - OneSubsea, a Schlumberger company, has been awarded an engineering, procurement, construction, installation and commissioning (EPCIC) contract for a s...

Austria >>  7/11/2017 - The refinery utilisation rate in the US averaged around 93% during May, corresponding to 17.2 mb/d. This represented an increase of more than 100 tb/d...
Austria >>  7/6/2017 - Oil futures on both sides of the Atlantic tumbled more than 4.5% m-o-m to their lowest value since November 2016. This was due to plentiful supplies, ...

Austria >>  7/5/2017 - Open interest (OI) increased in May for selected US commodity markets such as crude oil, natural gas and copper, while it declined for agriculture, co...
Greece >>  6/27/2017 - Wood Group has secured a new front end engineering design (FEED) contract with Gastrade S.A. for the Alexandroupolis Independent Natural Gas System (I...

Related Categories: Formation Evaluation  General  Geological, Geophysical  Geophysical Contractors  Mud Logging  Reservoir Engineering & Recovery Methods  Seismic survey  Well Completion, Logging, Workover 

Related Articles: Formation Evaluation  General  Geological, Geophysical  Geophysical Contractors  Mud Logging  Reservoir Engineering & Recovery Methods  Seismic survey  Well Completion, Logging, Workover 


Norway Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 |

More News

 

Oil & Gas Companies in Norway >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.