ABSTRACT: The Hydrocarbon Potential of the Norwegian Continental Shelf

Finn Roar Aamodt

Exploration for hydrocarbons started in 1965. The first commercial discovery (Ekofisk) was made in 1969, leading to the first production of hydrocarbons in 1971. Later. a large number of oil and gas fields were discovered, 19 of which were in production by June 1989. A number of new fields will be developed in the next decade. The anticipated production level by mid-1990 is approximately 90 million tons of oil equivalent as oil and approximately 30 million tons of oil equivalent as gas. Proven reserves for the whole of the Norwegian continental shelf as of June 1989 were estimated at 5200 million tons of oil equivalent, of which approximately 2100 million tons am oil and approximately 3100 million tons are gas. Most of these reserves (60%) lie in giant fields. All the gia ts discovered are either already in production or in the development phase. Most of the big fields were discovered from 1978 to 1985.

Exploration costs are increasing as a function of the fact that most of the recent discoveries are smaller than previously discovered fields. Exploration costs, however, are still low in Norway compared to most other areas. The R/P ratio for Norway' is approximately 20 for oil and approximately 120 for gas. The remaining unproven potential of the Norwegian continental shelf is expected to be at least 4 billion tons of oil equivalent, of which 70% or more is anticipated to be gas. New reserves will have to be found in the North Sea, outside mid-Norway, and in the Barents Sea.

The challenge for Norway in the future will be to discover new oil fields, make the smaller oil fields already discovered economically viable, enhance oil recovery from existing fields, and find markets for our large gas reserves. Norway will remain a major oil-producing nation well into the next century, and a major gas-producing nation for a much longer period.

AAPG Search and Discovery Article #91000©1990 AAPG Conference-Giant Oil and Gas Fields of the Decade 1978-1988 Conference, Stavanger, Norway, September 9-12, 1990