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Norway Oil and Gas Report Q1 2013 - Product Image

Norway Oil and Gas Report Q1 2013

  • Published: February 2013
  • Region: Norway
  • 116 pages
  • Business Monitor International

BMI View

Oil production in Norway may be in decline, but the country retains considerable upside gas potential and should continue to be a major force in European energy supply for decades to come.

Discoveries of considerable size are clearly still possible in mature areas, as demonstrated by the giant Johan Sverdrup and surrounding oil finds that continue to be made. This, and fresh prospective acreage offered in the Barents Sea, should stimulate new investment from domestic and foreign operators, slow a decline in oil output and spur on gas production within our ten-year forecast period.

The main trends and developments we highlight in Norway's oil and gas sector are:

- Official agency Statistics Norway estimates that oil and gas investment could increase by more than 15%
on 2011 levels to hit NOK185bn (US$32.09bn) in 2012, rising further still to NOK208bn (US$37.00bn)
in 2013.

- The giant Johan Sverdrup field's total resource estimates continue to rise. Data from another high-impact find by Statoil - Geitungen - show that it could be linked to the Johan Sverdrup complex. If so, it could add another 140-270mn boe to original estimates of 2.1-2.8bn READ MORE >

BMI Industry View 7

SWOT 9

Norway Oil and Gas SWOT 9

Industry Forecast 11
Table: Norway Upstream Projects 11

Oil And Gas Reserves 18
Table: Norway Proven Oil & Gas Reserves, 2010-2015 18
Table: Norway Proven Oil & Gas Reserves, 2016-2021 18

Oil Supply And Demand 21
Table: Norway Oil Production, Consumption And Net Exports, 2010-2015 21
Table: Norway Oil Production, Consumption And Net Exports, 2016-2021 22

Gas Supply And Demand 25
Table: Norway Gas Production, Consumption And Net Exports, 2010-2015 25
Table: Norway Gas Production, Consumption And Net Exports, 2016-2021 26

LNG 30

Refining And Oil Products Trade 31
Table: Norway Refining - Production And Consumption, 2010-2016 31
Table: Norway Refining - Production And Consumption, 2015-2021 32

Industry Risk Reward Ratings 34

Norway Risk/Reward Ratings 34

Developed States O&G Risk Reward Ratings 35

Outperformers Highlight Of Stable Ratings 35
Table: Oil & Gas Upstream Risk/Reward Ratings 36

Looking Downstream 37
Table: Oil & Gas Downstream Risk/Reward Ratings 37

Demand Grows Slow 38

Looking Ahead 40
Table: Developed States Oil & Gas Risk/Reward Ratings 40

Market Overview 42

Norway Energy Market Overview 42

Overview/ State Role 44

Licensing And Regulation 45

Government Policy 46

Licensing Rounds 49
Table: Blocks Offered In 22nd Licensing Round 50

International Energy Relations 51

Oil & Gas Infrastructure 53
Table: Refineries In Norway 54

LNG Terminals 56
Table: LNG Terminals In Norway 56

Gas Processing Plant 57

Competitive Landscape 59
Table: Key Players - Norwegian Oil And Gas Sector 59
Table: Key Upstream Players 60
Table: Key Downstream Players 61

Company Profile 62

Statoil 62

ExxonMobil 68

Total E&P Norge 71

Norske Shell 74

ConocoPhilips 77

Other Companies - Summary 80

BP - Summary 80

Gassco - Summary 80

Eni - Summary 80

Marathon Oil - Summary 81

Det Norske Oljeselskap - Summary 82

Lundin Petroleum - Summary 82

DONG Energy - Summary 83

Centrica - Summary 84

BG Group - Summary 84

Wintershall Norge - Summary 85

OMV - Summary 85

Faroe Petroleum - Summary 85

RWE Dea - Summary 86

Petoro - Summary 86

Norwegian Energy Company (Noreco) - Summary 87

Talisman Energy - Summary 87

Others - Summary 88

Regional Overview 89

Regional Energy Market Overview 89

Muted Consumption Growth 94

The Difficulty In Moving Exports Along 94

Refining Capacity: A Tale Of Two Continents 95

Global Industry Overview 97

Global Energy Market Overview 97
Table: Global Oil Demand Forecasts - A Comparison 100

Inflection point 100

New Frontiers In Production 101

Appendix 105

Developed Europe - Regional Appendix 105
Table: Oil Consumption - Historical Data & Forecasts, 2009-2016 ('000b/d) 105
Table: Oil Consumption - Long-Term Forecasts, 2014-2021 ('000b/d) 106
Table: Oil Production - Historical Data & Forecasts, 2009-2016 ('000b/d) 106
Table: Oil Production - Long-Term Forecasts, 2014-2021 ('000b/d) 107
Table: Refinery Capacity - Historical Data & Forecasts, 2009-2016 ('000b/d) 107
Table: Refining Capacity - Long-Term Forecasts, 2014-2021 ('000b/d) 108
Table: Gas Consumption - Historical Data & Forecasts, 2009-2016 (bcm) 108
Table: Gas Consumption - Long-Term Forecasts, 2014-2021 (bcm) 109
Table: Gas Production - Historical Data & Forecasts, 2009-2016 (bcm) 110
Table: Gas Production - Long-Term Forecasts, 2014-2021 (bcm) 110
Table: LNG Gas Imports (Exports) - Historical Data & Forecasts, 2009-2016 (bcm) 111
Table: LNG Gas Imports (Exports) - Long-Term Forecasts, 2014-2021 (bcm) 111

Glossary 112
Table: Glossary Of Terms 112

Methodology 114

Energy Industry 115

Cross checks 115

Sources 116

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