The Shelf in 20199 January 2020

Director General Ingrid Sølvberg

Photo: Tom Haga/Conoco Phillips

50 years since the Ekofisk discovery

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A lot of exploration wellsand a lot of discoveries

Exploration activity 2010 – 2019

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Many discoveries in 2019

The value of "a small discovery"?

+Ryfast tunnel project New Stavanger University Hospital

Illustrations: Stavanger Aftenblad 6

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Good access to acreage and a lot of exploration wells

Good data – necessary for success

Illustration: Magseis-Fairfield8

Proven petroleum in 2019

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Record number of fieldsin production

Are we headed for a new production record?Production up to 2024, distributed by product

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Johan Sverdrup on stream in 2019

Photo: Equinor/Espen Rønnevik/Øyvind Gravås

More fields that started operating in 2019Considerable values, even in the smaller developments

Total current value

NOK 31 billion

OdaHost field: Ula

TrestakkHost field: Åsgard

UtgardHost field: Sleipner

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Gas from Oda increases reserves on Ula

Photo: Aker BP14

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Other development plans approved in 2019

SolveigHost field: Edvard Grieg

Gjøa P1Host field: Gjøa

DuvaHost field: Gjøa

Opal sørHost field: Gullfaks

Shetland/Lista Host field: Gullfaks

Tor IIHost field: Ekofisk

Total current value

NOK 38 billion

New life in old veterans

16Photo: Vår Energi Photo: Equinor/Harald Pettersen

Illustration: Conoco-Phillips

BALDER EKOFISK AND TOR II

STATFJORD

The challenging barrelsConsiderable values could be left in place

17Researcher at the IOR Centre/University of Stavanger

Photo: Jan Inge Haga

Present oil and gas in tight reservoirs. Figures in million Sm3 oe

Continued reserve growth for oil requires decisions

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Production increases, emissions go down

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Full-scale CCS demonstration project

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The investment levelremains high

Investments level off starting in 2021

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Stable activity level in the next five yearsTotal costs leading up to 2024

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Costs are declining and production is increasing

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Future value creation

Still more than half left

Total resources: 15.7 billion Sm3 of oil equivalent

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Many discoveries can be developed to tie in to existing infrastructure

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Good opportunities for substantial values from undiscovered resources

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BARENTS SEA NORTH

BARENTS SEA SOUTH

NORWEGIAN SEA

NORTH SEA

P95

Expected

P05

Open area

Norwegian shelf boundary

Sea area with estimate for undiscovered resources

Continuing to map the Barents Sea North

Svalbard

29Foto: Shearwater Geoservices

Legend

Minerals on the seabed

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Total production up to 2030

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Continued high value creation from the Norwegian shelf

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