22 NORWEGIAN FIELDS DUE DEVELOPMENT

Norwegian Fields Under Development and Probable Developments Twenty-two oil and gas development prospects off Norway are due to go on production from now to 2000. They will contribute 1.26 million b/d of oil production and 2.86 bcfd of gas in 2000, Wood Mackenzie Consultants Ltd. reported. The Edinburgh analyst reckons a total 137 billion kroner ($21 billion) will be spent to develop the prospects, which hold combined reserves estimated at 5 billion bbl of oil and 43.5 tcf of gas.

May 1, 1995

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Norwegian Fields Under Development and Probable Developments

Twenty-two oil and gas development prospects off Norway are due to go on production from now to 2000.

They will contribute 1.26 million b/d of oil production and 2.86 bcfd of gas in 2000, Wood Mackenzie Consultants Ltd. reported.

The Edinburgh analyst reckons a total 137 billion kroner ($21 billion) will be spent to develop the prospects, which hold combined reserves estimated at 5 billion bbl of oil and 43.5 tcf of gas.

Seven of the new developments are thought likely to use platforms, eight to use floating production systems, and seven to be subsea projects.

Wood Mackenzie said, "Innovative developments in floating production system technology have recently focused industry attention on the fast track Norne field development and its use of a monohull production vessel, a concept being considered for five other probable field developments.

"Use of horizontal wells to keep down total number of wells required, advances in subsea technology, and the production ship concept will help make Norne field development one of the most profitable in Norway"

Expected total capital expenditure for Norne development has been reduced to 8.2 billion kroner ($1.2 billion) from 12.5 billion kroner ($1.9 billion) just a year ago.

Expected developments are mainly in the northern North Sea, but the Norwegian Sea off mid-Norway is said to be one of the most interesting features of the portfolio of prospects.

Norwegian Sea projects are Heidrun, Norne, Njord, and the Smoerbukk, South Smoerbukk, and Midgard group. Development of the last three is said to depend on allocation of gas sales contracts this autumn (OGJ, Oct. 31, 1994, p. 20).