Norway's mature North Sea still attractive after more than 40 years

摘要

It is exactly 43 years since the first exploration well was spudded on the NCS. The well, located in the North Sea, was dry, but it paved the way for the successes to come, amounting to proven reserves of more than 60 Bboe throughout the NCS. As petroleum provinces mature, it is common to see a shift from exploration to production, but the story in Norway is a little different. The Norwegian government is very proactive in the oil and gas sector and is determined to access the full potential of the resources within its boundaries -why leave oil or gas in the ground if it can be produced, either now or by using future technologies? To this end, the Norwegian government has a target of increasing reserves in Norway by 5 Bboe in the period 2005-2015 (of which just 1.5 Bboe have been added to date).