Another bad year!
Only some 9 Bboe have been found worldwide this year. This is about the same as in 2016 and 2017 (8.3 and 7.5 Bboe, respectively), but significantly less than in…
Resources
Hydrocarbon reserves in mature areas
The deliberate search for additional reserves in proximity to producing assets pays off.
New name – old wrapping
“Geobank” is the new name of NPD’s core viewing room, which reflects that it contains lots more than just rock samples.
4.1 Bboe Yet-to-Find on UKCS
Paul Herrington, Exploration Portfolio Manager at OGA explained at the 2nd NCS Exploration Strategy Conference in Stavanger the workflow behind these numbers, which are reported in the UK Oil and Gas…
Oil and Gas are here to stay
This is why it is necessary for all explorationists to preach the message that we need to continue to explore on the NCS.
Another 20Bbo+?
The UK’s petroleum reserves could sustain production for at least the next 20 years and beyond if additional undeveloped resources can be matured.
Looking for deep oil
Statistical data demonstrate that the UK has been more successful than Norway in finding deep oil. The reason for this will be discussed in November.
UK exploration builds momentum
Between 2008 and 2017 1.5 bnboe of commercial resources were discovered in the UK.
A long wait
Some 1.5 Bboe have been proved in the Barents Sea (NPD 16.05.2018) since the first well was drilled in 1980. To put that number in perspective, we must remember that…
Denmark, a net importer of oil
2017 was the last year in which Denmark produced more oil than the country consumed.
Significant increase in resources
Lundin seems to have made another significant strike, with a huge upside. This time in precambrian basement rocks.