In the updated Resource Accounts, the Norwegian Petroleum Directorate projects that there are 8 billion standard cubic metres of oil equivalent (Sm3 o.e.) left to produce on the Norwegian continental shelf (NCS).

This corresponds to around 19 times the volume that will be produced from the Johan Sverdrup field in the North Sea.

The Resource Accounts are an overview of the NPD’s estimated total proven and unproven petroleum resources on the NCS.

Of the remaining resources on the NCS, 4.2 billion Sm3 o.e, or 52 per cent, are proven. Unproven resources are estimated at 3.8 billion Sm3 o.e.

Total proven and unproven petroleum resources on the NCS are estimated at 15.8 billion Sm3 o.e. This is 28 million more than as of 31 December 2019.

According to May Karin Mannes, the NPD's Director analysis and data management, 49 per cent of the resources, or 7.8 billion Sm3 o.e, have been sold and delivered.

Production on the Norwegian shelf in 2020 was 229 million Sm3 o.e.

January production

Preliminary production figures for January 2021 show an average daily production of 2 137 000 barrels of oil, NGL and condensate.

Total gas sales were 10.4 billion Sm3 (GSm3), which is an increase of 0.1 GSm3 from the previous month.

Average daily liquids production in January was: 1 804 000 barrels of oil, 321 000 barrels of NGL and 12 000 barrels of condensate.

The total petroleum production in January 2021 is about 20.9 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 8.9 MSm3 o.e. of oil, about 1.6 MSm3 o.e. of NGL and condensate and about 10.4 MSm3 o.e. of gas for sale. 

The total volume is 0.7 MSm3 o.e. higher than in January 2020.

Read the complete Resource Accounts   l   KeyFacts Energy Industry Directory: Norwegian Petroleum Directorate