Norway drillers focused on near-infrastructure targets
Aug. 6, 2024
Westwood Global Energy Group expects 47 exploration wells to be drilled this year across the Norwegian Continental Shelf, targeting an overall resource of about 2.85 Bboe.
Annual well count and commercial and technical success rates
Westwood Global Energy Group expects 47 exploration wells to be drilled this year across the Norwegian Continental Shelf, targeting an overall resource of about 2.85 Bboe.
During the first half of the year, 15 wells were completed, resulting in six small discoveries with combined resources of 86 MMboe, according to Westwood’s Norway State of Exploration report.
Source: Westwood Atlas and Wildcat
Discovered commercial resources, commercial success rates and drilling finding costs by basin, 2014-2018 versus 2019-2023
The remaining line-up of wells that are either active or expected to spud before year-end have pre-drill resources of roughly 1.8 Bboe, the consultants added.
During 2025 and beyond, Westwood expects the emphasis on infrastructure-led exploration drilling to continue, with reduced emphasis on high-impact prospects as the basin matures.
The exception might be the Barents Sea, where there is still potential for large discoveries.
