• NCSAtlas: provides monthly up-to-date information on licenses and field activities on the Norwegian Continental Shelf, including area-by-area reviews, exploration drilling activity, reserves/resources benchmarks, production profile outlooks and monthly feature topics (e.g. asset transaction).
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Key NCS Takeaways December 2017
Statoil has entered into agreement with Total to acquire its interest of 51% in Martin Linge and 40% in Garantiana including operatorship for a consideration of USD 1.45 billion.
Pandion has entered into agreement with AkerBP to acquire 10% interest in Valhall and Hod fields.
OKEA has completed deal with Repsol to acquire 5% interest in the Yme field bringing total ownership up to 15%.
BASF and Letter 1 have signed letter of intent to merge their oil and gas subsidiaries Wintershall and DEA into one company where BASF will own 67%.
VNG plans to divest 51% of it’s ownership Norwegian and Danish assets according to Reuters.
OMV expects to close deal with Gazprom by end 2018 whereby Gazprom will get a 38.5% ownership in OMV Norge ASA according to Reuters.
11 companies have applied for licenses in the 24th license round with only Shell as a Major.
Lundin made a non-commercial gas discovery in PL 533 Hufsa located northwest of the Alta discovery in the Barents Sea.
Statoil has submitted PDO for Johan Castberg with Capex of NOK 49 billion and first oil in 2022.
5 smaller Plans for Development and Operations (PDO) have been submitted to the Ministry of Petroleum and Energy in addition to Johan Castberg. Valhall West Flank, Ærfugl and Skogul will be developed by Aker BP while Yme and Fenja will be developed by Repsol and VNG respectively. Ærfugl capex/boe is one of the lowest recorded on the NCS with only NOK 8.5 billion spend to develop 275 MMboe.