Perspectives for the Norwegian continental shelf

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Pareto presentation 29. August

• Perspectives for the Norwegian continental shelf
• Jan Rosnes, VP Projects and strategy

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From oil and gas to money to more money
Norges Bank - NBIM
Yearly SDFI cash flow 100 bill. NOK
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Overview key subjects on NCS

• High oil price
• opportunity and challenge
• Production and reserve replacement
• two thoughts at the same time
• Structural changes
• diversity required
• Climate change
• increased environmental attention
• Competence
• development, education, recruitment

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Two thoughts at the same time
Source NPD
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Production level hinges on major fieldsTime
critical to maximize value from these fields and
surrounding areas
Source NPD/MPE
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Existing large fields dominate NCS for the next
decade Both on capital and operational
expenditure
Kilder OLF, McKinsey
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Undiscovered resources - two important focus areas
Total 3.4 billion Sm3 oe
30
35
30
35
30
35
35
35
35
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In addition to the estimated undiscovered
resources there is also a potential in other
regions

• Norwegian Sea
• West of Lofoten
• Barents Sea North
• Eastern Barents Sea
• Jan Mayen
• Skagerrak

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Two thoughts at the same time
Troll gass
Visund
Gjøa
Make the most of mature areas (Petoro focus
Tampen, Oseberg, Troll, Haltenbanken)
New discoveries in new areas (Petoro focus
Norwegian sea, Barents sea)
Snøhvit
Ormen Lange
Åsgard
Produksjon
Heidrun
Grane
Kristin
Kvitebjørn
Snorre
Vigdis
Oseberg
Ekofisk
Gullfaks
Statfjord Nord
Norne
Tune
Tordis
Statfjord øst
Draugen
Troll olje
Veslefrikk
Year 2015
Exploration
Develop-ment
Plateau
Mature
Tail-end
0-20
21-50
51-95
96-100
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Diversity still important for NCS
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Newcomers contributes to diversity .. but
mainly for exploration in mature areas
Source St.prp.60 (2006-2007
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Overview key subjects on NCS

• High oil price
• opportunity and challenge
• Production and reserve replacement
• two thoughts at the same time
• Structural changes
• diversity required
• Climate change
• increased environmental attention
• Competence
• development, education, recruitment