Summary
Norway Oil and Gas Production and Exploration Market by Terrain, Assets and Major Companies, 2021 Update
Summary
Norway produces its oil and gas offshore in the North, Norwegian and Barents Sea basins and is the largest petroleum producer in Europe. The country first began producing hydrocarbons in the 1970s, seeing peak oil and gas production in 2004 at a rate of 4.54 million barrels of oil equivalent per day (mmboed). Approximately 75% of the country’s production derives from the North Sea, 24% from the Norwegian Sea and 1% from the Barents Sea. Current production is slightly more weighted towards gas, with gas production accounting for 2.1 mmboed in 2020 and liquids accounting for 1.7 mmboed. Norway continues to be an exporter of oil and gas and GlobalData estimate over 9 billion barrels of crude oil and condensate reserves are remaining in producing and upcoming developments. Whilst for natural gas GlobalData estimate over 53 trillion cubic feet (tcf) remains in producing and upcoming developments. Norway’s 2021 crude oil and condensate production is forecast to be approximately 1.8 million barrels per day (mmbd) up from 1.6 mmbd in 2020. 2021 natural gas production is up from 10.8 billion cubic feet per day (bcfd) in 2020 to 11.2 bcfd in 2021.
Scope
- Norway’s oil and gas production outlook by assets terrain, and major companies
- Key details of active and upcoming oil and gas assets in the country
- Recently licensed blocks details, licensed blocks count by company, and latest discoveries
- Latest mergers and acquisitions, and awarded contracts related to the E&P sector in the country
Reasons to Buy
- Gain a strong understanding of the Norway’s E&P sector
- Facilitate decision making based on strong historical and outlook of oil and gas production data, licensed blocks details, and discoveries
- Assess your competitor’s production outlook and licensed blocks count in the country
- Analyze latest M&A landscape and awarded contracts related to the country’s E&P sector
