Updated: Declining discoveries for Norwegian oil giants / News / The Foreigner

The Foreigner Updated: Declining discoveries for Norwegian oil giants. Norwegian oil and gas finds have been decreasing for the past 14 years since the discovery of the Ormen Lange gas field, according to the Norwegian Petroleum Directorate (NPD). The last decade has only seen small discoveries, and NPD representatives believe the trend is set to continue. “There are really no big finds left to be made in the opened areas,” Director General Bente Nyland informs Aftenposten.

ormenlange, ekofisk, troll, statfjord, oseberg, norwegianpetroleumdirectorate, bentenylund



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Updated: Declining discoveries for Norwegian oil giants

Published on Tuesday, 8th February, 2011 at 09:56 under the news category, by Nicoleta Dumitrache Sincan.
Last Updated on 9th February 2011 at 10:53.

Norwegian oil and gas finds have been decreasing for the past 14 years since the discovery of the Ormen Lange gas field, according to the Norwegian Petroleum Directorate (NPD).



The last decade has only seen small discoveries, and NPD representatives believe the trend is set to continue.

“There are really no big finds left to be made in the opened areas,” Director General Bente Nyland informs Aftenposten.

Norwegian and Barents Sea wells are dry, except for Snøhvit and Goliat, which have yielded major results, and oil production has almost halved since its peak in 2000.

Explorations for what the industry calls “elephants” are over, according to Aftenposten. Only Statoil remains faithful to the Norwegian Continental Shelf.

As not one geological formation in the North Sea has been left unturned, the other major companies are consequently focusing their attention to so-called virgin areas with prospective.

The Directorate claims there oil and gas reserves off Lofoten, Vesterålen, and Senja of as much as 25 percent,. It is also believed there are new, major discoveries to be made in the Barents, pending ratification of the maritime line of delineation by the Russian Duma.

“We already have a partial overview of the major geological picture. There are prospective rock types on both the Norwegian and Russian side of the border.  It may be possible to find “elephants” here,” says Ms Nylund.



Published on Tuesday, 8th February, 2011 at 09:56 under the news category, by Nicoleta Dumitrache Sincan.
Last updated on 9th February 2011 at 10:53.

This post has the following tags: ormenlange, ekofisk, troll, statfjord, oseberg, norwegianpetroleumdirectorate, bentenylund.





  
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