NPD Reports Growing Activity on Norwegian Shelf

The Norwegian Petroleum Directorate reports that while gas production has increased in 2007, oil production is somewhat lower than in the previous year, as expected. However, 32 exploration wells were spudded in 2007, up from 26 in 2006. Twelve new discoveries were made, most of which appear to be fairly small.

A total of 237.8 million cubic meters marketable oil equivalents were produced in 2007, 26.2 million cubic meters less than in the record year 2004.

The activity level offshore Norway is high. Four new fields have commenced production during the course of the year: Blane, Enoch, Ormen Lange and Snohvit. An additional three fields are expected to start producing in 2008: Alvheim, Vilje and Volve.

During the course of 2007, eight plans for development and operation (PDO) were approved for nine new deposits. Around 10 PDOs are expected to be submitted to the authorities in 2008.

Thirty two exploration wells were spudded in 2007, of which 20 were wildcat wells and the rest were appraisal wells. Thirty three exploration wells have been completed. In 2006 the NPD expected around 30 exploration wells to be spudded. The NPD believes that the high exploration activity will continue in 2008.

There is no significant change in the overall estimate for petroleum resources on the Norwegian shelf as of Dec. 31 2007. The estimate is 13 billion cubic meters of oil equivalent.

In 2007, the Norwegian Petroleum Directorate collected 2617 kilometers of seismic data in the Nordland VII and Troms II areas. Data acquisition will continue in the summer of 2008.

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