Norway Oil and Gas Report Q2 2016

Date: April 6, 2016
Pages: 145
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: N5E99CF8261EN

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Norway Oil and Gas Report Q2 2016
Includes 3 FREE quarterly updates

BMI View: New field developments and improved recovery will stabilise oil production over the 2016-2019 period. Weaker oil prices will curtail investment, although the long-term impact will be masked by the vast Johan Sverdrup project starting in 2019. Gas production will improve as lower prices support European demand.

Latest Updates And Key Forecasts
  • Crude, condensate and other liquids production increased 2.4% y-o-y in 2015, reaching 1.938mn b/d.
  • In 2016, the Goliat field (Q1) and the Flyndre development (H2) will support production declines.
  • Non-exploration investment in the Norwegian continental shelf fell around 17% in 2015 and is due to drop again in 2016 and 2017.
  • Subsea compressors installed at the Gullfaks and Åsgard fields in September and October 2015 will also support our outlook for oil production growth in 2016.
  • Gas production increased 7.7% y-o-y in 2015, reaching 117.4bcm.
  • Total announced it will delay the Martin Linge project to 2018, while the final investment decision on Statoil's Snorre 2040 project has also been delayed to Q416.
  • Exploration wells are due to fall from 56 in 2015 to an estimated 32 in 2016, according to the NPDб although exploration in the Barents will increase from 7 to 10 wells.
  • Refinery utilisation ran at 100% utilisation in 2015, with 359,000b/d of refined fuels produced. This will be lower in 2016 as oil prices improve.
  • 56 production licences were offered to 36 different companies in Norway's APA 2015 round.
BMI Industry View
  Table: Headline Forecasts (Norway 2014-2020)
Oil & Gas SWOT
Industry Forecast
Upstream Exploration
Latest Updates
Structural Trends
  Table: Norway Wildcat Drilling Results 2015/2016
Upstream Projects
  Table: Key Upstream Projects In Norway
Upstream Production - Oil
Latest Updates
Structural Trends
  Table: Oil Production (Norway 2014-2019)
  Table: Oil Production (Norway 2020-2025)
Upstream Production - Gas
Latest Updates
Structural Trends
  Table: Gas Production (Norway 2014-2019)
  Table: Gas Production (Norway 2020-2025)
Latest Updates
Structural Trends
  Table: Refining Capacity and Refined Products Production (Norway 2014-2019)
  Table: Refining Capacity and Refined Products Production (Norway 2020-2025)
Refined Fuels Consumption
Latest Updates
Structural Trends
  Table: Refined Products Consumption* (Norway 2014-2019)
  Table: Refined Products Consumption* (Norway 2020-2025)
Gas Consumption
Latest Updates
Structural Trends
  Table: Gas Consumption (Norway 2014-2019)
  Table: Gas Consumption (Norway 2020-2025)
Trade - Oil
Latest Updates
Structural Trends
  Table: Crude Oil Net Exports (Norway 2014-2019)
  Table: Crude Oil Net Exports (Norway 2020-2025)
  Table: Refined Fuels Net Exports (Norway 2014-2019)
  Table: Refined Fuels Net Exports (Norway 2020-2025)
Trade - Gas (Pipeline And LNG)
Latest Updates
Structural Trends
  Table: Gas Net Exports (Norway 2014-2019)
  Table: Gas Net Exports (Norway 2020-2025)
Industry Risk/Reward Index
North America And Western Europe - Risk/Reward Index
  Table: North America And Western Europe - Oil & Gas Risk/Reward Index
Upstream: North America To Maintain Lead
  Table: North America And Western Europe - Upstream Risk/Reward Index
Downstream: US Widens Lead
  Table: North America And Western Europe - Downstream Risk/Reward Index
Norway - Risk/Reward Index
Upstream Index - Overview
Upstream Index - Rewards
Upstream Index - Risks
Downstream Index - Overview
Market Overview
Norway Energy Market Overview
Fiscal Regime
  Table: Norway - Offshore Tax Regime Overview
Licensing Regime And Rounds
Oil And Gas Infrastructure
Oil Refineries
  Table: Refineries In Norway
Service Stations
Oil Terminals
Oil Pipelines
  Table: Norway - Major Oil Pipelines
LNG Terminals
  Table: LNG Terminals In Norway
Gas Processing Plants
Gas Pipelines
  Table: Gas Pipelines Operated By Gassled
Competitive Landscape
Competitive Landscape Summary
  Table: Key Players - Norwegian Oil And Gas Sector
  Table: Key Upstream Players
  Table: Key Downstream Players
Company Profile
Total E&P Norge
Norske Shell
Other Summaries
Regional Overview
North America And Western Europe Regional Overview
  Table: North America - Key Regional Indicators, 2013-2024
  Table: Western Europe - Key Regional Indicators, 2013-2024
  Table: Glossary Of Terms
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Bmi's Oil & Gas Upstream Risk/Reward Index
  Table: Weighting
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