Activity on the Norwegian Continental Shelf (NCS) is predicted to be high and keep rising over the next few years – but not without industry and government commitment, according to Norway’s oil industry association.
The Norwegian Oil Industry Association (OLF) business trend report for 2011 painted a buoyant outlook for the country’s oil sector. It said that, for the first time since Ormen Lange was discovered in 1997, resources found on the NCS so far this year already outstrip anticipated production for the year. The largest and most important has been Avaldsnes/Aldous in the North Sea.
In addition, substantial discoveries have been made in the Barents Sea with the Skrugard prospect and the Norvarg gas field.
OLF chief executive Gro Brækken warned that for production to remain high on the NCS there needed to be commitment from government and industry.
“A high level of exploration activity has prevailed on the NCS in recent years,” she said.
“Forty-eight exploration wells had been completed at October 31 with six still being drilled. The new discoveries show that substantial resources still remain in mature areas like the North Sea, while faith in the Barents Sea as a petroleum province has been strengthened.”
Ms Brækken added: “If we’re going to maintain production on the NCS, we need improved recovery, more exploration and the opening of new areas.”