Following the publication of Westwood’s Norway State of Exploration 2014-2023 report, Alyson Harding and Stephen Coomber delivered a summary and explanation of the key highlights from the report.
The report analyses exploration activity and performance of wells drilled on the Norwegian Continental Shelf between 2014 and 2023, as well as 2024 results to date and an outlook for the remainder of the year. A total of 289 wells were drilled and completed, making 80 commercial discoveries with associated resources of 2.5 bnboe at a drilling finding cost of US$4.8/boe. The proportion of infrastructure-led wells has trended upwards over the decade as companies look to sustain production levels in older hubs and improve project economics and cycle times. This is expected to continue, with less emphasis on high impact prospects as the basin matures and there are fewer large play openers
Presented and recorded on Wednesday 4th September, 2024.
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