NPD reports on Norwegian continental shelf resources
STAVANGER — The Norwegian Petroleum Directorate (NPD) has released its resource account, an overview of the estimated quantities of recoverable petroleum resources on the Norwegian continental shelf. Recoverable petroleum resources consist of both the original marketable and the remaining petroleum resources.
The resource estimates are based on reports submitted annually by the operating companies, NPD evaluations for fields and discoveries, and NPD estimates of undiscovered resources. This account shows the estimated geographical distribution for the North Sea, the Norwegian Sea, and the Barents Sea.
The resources on the Norwegian continental shelf are classified according to maturity as shown in the NPD’s resource classification, reflecting the maturity, or project status, with regard to decisions to develop and produce the discovered petroleum quantities.
The total recoverable petroleum resources on the Norwegian shelf as of Dec. 31, 2008 are estimated at approximately 13 bcm of oil equivalents. This figure is more or less the same compared to last year’s account, the NPD says. This year’s account shows that 25 discoveries have been made in 2008. The volumes in the new discoveries are small and the volume varies between 1 MMcm of oil equivalents and 26MMcm of oil equivalents. There has also been an increase in gross oil reserves with 29 MMcm.