Offshore Oil and Gas in Norway - Production, Drilling, Rig Activity and Expenditure

Synopsis
Key historical and forecast data for the offshore oil and gas industry in Norway for the following indicators: production, drilling, rig activity and operating and capital expenditure data.

Introduction
The report looks at the offshore oil and gas activities in Norway. The report details the main upstream indicators of activity from drilling activity, expenditure through to production. Our data goes back to 2000 for most categories and forward to 2030 for production. It gives analysts and investors a concise guide to this important industry.

Scope
• Identify the opportunities in the Norwegian offshore oil and gas industry by analyzing drilling activity and production from 2010 onwards
• Develop investment strategies through a review of key suppliers of upstream supplies and services
• Identify M&A targets by analyzing offshore production data (value, volume and share) on a company-by-company basis
• Analyze and identify key rigs across Norway by comparing rigs across 26 parameters

Highlights
• Oil and gas production in Norway grew at a CAGR of 0.03% over the 2000-09 period. This is expected to decline at a CAGR of 2.6% over the 2010-30 period.
• Capital Expenditure (Capex) accounted for a 46.4% share of the total offshore expenditure in 2009 in Norway, while Operation Expenditure (Opex) accounted for the remaining 53.6% share.

Reasons to purchase
• Which countries will see the fastest growth in offshore oil and gas activity?
• Which companies are the most active in the offshore oil and gas sector?
• How much expenditure will be incurred both as operational and capital expenditure?
• How are oil and gas production trends evolving from 2000 to 2030?
• Where will drilling activity be greatest?
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TABLE OF CONTENTS
Introduction 2
Summary 2
Market definition 3
Norwegian Offshore Oil and Gas Production Overview 16
Offshore production to 2030 16
Offshore cumulative production to 2030 20
Offshore remaining production to 2030 24
Norwegian Offshore Production Wells 28
Total production wells (oil & gas) overview 28
Offshore production wells (oil and gas) 32
Norwegian Offshore Drilling 34
Offshore drilling of wells to 2015 34
Offshore well drilling split by exploratory and development to 2015 36
Offshore exploratory well drilling to 2015 38
Offshore exploratory well drilling in Norway, split by exploration and appraisal to 2015 40
Offshore development well drilling to 2015 42
Offshore development well drilling in Norway, split by surface and sub-sea development to 2015 44
Norwegian Offshore Expenditure 46
Capex and Opex to 2015 46
Norwegian Offshore Rig Activity 50
Borgland Dolphin, Bredford Dolphin, Deepsea Bergen, Songa Delta and Songa Trym 50
Maersk Gallant, Maersk Giant, Maersk Guardian, Maersk Innovator and Maersk Inspirer 52
Ocean Vanguard, Scarabeo 5, Songa Dee, Stena Don and Transocean Arctic 53
Transocean Leader, Transocean Polar Pioneer, Transocean Searcher, Transocean Winner and West Alpha 54
West Epsilon, West Navigator, West Venture, Valhall and Gyda 55
Ula, Ekofisk X, Ringhorne, Brage and HMP 01 56
Njord A, Oseberg B, Oseberg C, Oseberg Ost and Oseberg Sor 57
Visund, Ekofisk B, Ekofisk C, Eldfisk A and Phillips Rig 48 58
Phillips Rig 49, Phillips Rig 66, Tor, Snorre A and Snorre B 59
Gullfaks A, Gullfaks B, Gullfaks C, Heidrun and Statfjord A 60
Statfjord B, Statfjord C, Troll and Veslefrikk A 61
West Phoenix, Aker Spitsbergen, Aker Barents and Deepsea Atlantic 62
Norwegian Equity Stakes 63
Companies ranked by estimated oil production offshore in 2010 63
Companies ranked by estimated natural gas production offshore in 2010 67
Companies ranked by estimated oil & natural gas production offshore in 2010 71
Top 10 companies ranked by estimated oil production offshore in 2010 75
Top 10 companies ranked by estimated natural gas production offshore in 2010 77
Top 10 companies ranked by estimated oil & natural gas production offshore in 2010 79
Top 5 companies ranked by estimated oil production offshore in 2010 81
Top 5 companies ranked by estimated natural gas production offshore in 2010 82
Top 5 companies ranked by estimated oil & natural gas production offshore in 2010 83
Companies and estimated oil production per year 84
Companies and estimated natural gas production per year 87
Appendix 89
Research methodology 89
Global oil & gas analyzer overview 89
Overview of reserves 89
Overview of drilling activity 89
How producing wells are forecast 90
Overview of production data 91
Overview of production decline rates 91
Overview of offshore Capex & Opex data 92
Overview of drilling expenditure 93
Overview of operating expenditure 96
Overview of consumption data 96
Sources of data 96
Data verification 97
Final data review and publication 97
How to contact experts in your industry 98
Further reading 98
Disclaimer 98

LIST OF FIGURES
Figure 1: Norway, offshore oil and gas production (000s boe/day), 2000–09 16
Figure 2: Norway, offshore oil and gas production (000s boe/day), 2010–30f 18
Figure 3: Norway, oil and gas market, offshore cumulative production (mm boe), 2000–09 20
Figure 4: Norway, oil and gas market, offshore cumulative production (mm boe), 2010–30f 22
Figure 5: Norway, oil and gas market, offshore remaining production (mm boe), 2000–09 24
Figure 6: Norway, oil and gas market, offshore remaining production (mm boe), 2009–30f 26
Figure 7: Norway, number of production wells (oil and gas), 2002–09 28
Figure 8: Norway, number of production wells (oil and gas), 2009–15f 30
Figure 9: Norway, number of offshore producing wells 2002–09 32
Figure 10: Norway, number of offshore producing wells 2009–15f 33
Figure 11: Norway, number of offshore wells drilled, 2000–15f 34
Figure 12: Norway, number of offshore wells drilled, split by exploratory and development, 2000–15f 36
Figure 13: Norway, number of offshore exploratory wells drilled, 2000–15f 38
Figure 14: Norway, number of offshore exploratory wells drilled, split by exploration and appraisal, 2000–15f 40
Figure 15: Norway, number of offshore development wells drilled, 2000–15f 42
Figure 16: Norway, number of offshore development wells drilled, split by surface and sub-sea development, 2000–15f 44
Figure 17: Norway, offshore expenditure, capex and opex ($m), 2000–09 46
Figure 18: Norway, offshore expenditure, capex and opex ($m), 2009–15f 48
Figure 19: Norway, offshore oil estimated production volume (mmbbl/year) by company, 2010 63
Figure 20: Norway, offshore oil estimated production volume (mmbbl/year) by company, 2010 64
Figure 21: Norway, offshore natural gas estimated production volume (bcm/year) by company, 2010 67
Figure 22: Norway, offshore natural gas estimated production volume (bcm/year) by company, 2010 68
Figure 23: Norway, offshore oil & natural gas estimated production volume (mmboe/year) by company, 2010 71
Figure 24: Norway, offshore oil & natural gas estimated production volume (mmboe/year) by company, 2010 72
Figure 25: Norway, estimated market share of top 10 companies in offshore oil production, 2010 75
Figure 26: Norway, estimated market share of top 10 companies in offshore natural gas production, 2010 77
Figure 27: Norway, estimated market share of top 10 companies in offshore oil & natural gas production, 2010 79
Figure 28: Norway, estimated market share of top 5 companies in offshore oil production, 2010 81
Figure 29: Norway, estimated market share of top 5 companies in offshore natural gas production, 2010 82
Figure 30: Norway, estimated market share of top 5 companies in offshore oil & natural gas production, 2010 83
Figure 31: Norway, offshore oil estimated production per year by company, 2010–30 84
Figure 32: Norway, offshore natural gas estimated production per year by company, 2010–30 87

LIST OF TABLES
Table 1: Norway, offshore oil and gas production (000s boe/day), 2000–09 17
Table 2: Norway, offshore oil and gas production (000s boe/day), 2010–30f 19
Table 3: Norway, oil and gas market, offshore cumulative production by oil (mm bbls) and gas (bcm), 2000–09 21
Table 4: Norway, oil and gas market, offshore cumulative production by oil (mm bbls) and gas (bcm), 2010–30f 23
Table 5: Norway, oil and gas market, offshore remaining production by oil (mm bbls) and gas (bcm), 2000–09 25
Table 6: Norway, oil and gas market, offshore remaining production by oil (mm bbls) and gas (bcm), 2009–30f 27
Table 7: Norway, number of production wells (oil and gas), 2002–09 29
Table 8: Norway, number of production wells (oil and gas), 2009–15f 31
Table 9: Norway, number of offshore producing wells 2002–09 32
Table 10: Norway, number of offshore producing wells 2009–15f 33
Table 11: Norway, number of offshore wells drilled, 2000–15f 35
Table 12: Norway, number of offshore wells drilled, split by exploratory and development, 2000–15f 37
Table 13: Norway, number of offshore exploratory wells drilled, 2000–15f 39
Table 14: Norway, number of offshore exploratory wells drilled, split by exploration and appraisal, 2000–15f 41
Table 15: Norway, number of offshore development wells drilled, 2000–15f 43
Table 16: Norway, number of offshore development wells drilled, split by surface and sub-sea development, 2000–15f 45
Table 17: Norway, offshore expenditure, capex and opex ($m), 2000–09 47
Table 18: Norway, offshore expenditure, capex and opex ($m), 2009–15f 49
Table 19: Norway, offshore rig activity, Borgland Dolphin, Bredford Dolphin, Deepsea Bergen, Songa Delta and Songa Trym 50
Table 20: Norway, offshore rig activity, Maersk Gallant, Maersk Giant, Maersk Guardian, Maersk Innovator and Maersk Inspirer 52
Table 21: Norway, offshore rig activity, Ocean Vanguard, Scarabeo 5, Songa Dee, Stena Don and Transocean Arctic 53
Table 22: Norway, offshore rig activity, Transocean Leader, Transocean Polar Pioneer, Transocean Searcher, Transocean Winner and West Alpha 54
Table 23: Norway, offshore rig activity, West Epsilon, West Navigator, West Venture, Valhall and Gyda 55
Table 24: Norway, offshore rig activity, Ula, Ekofisk X, Ringhorne, Brage and HMP 01 56
Table 25: Norway, offshore rig activity, Njord A, Oseberg B, Oseberg C, Oseberg Ost and Oseberg Sor 57
Table 26: Norway, offshore rig activity, Visund, Ekofisk B, Ekofisk C, Eldfisk A and Phillips Rig 48 58
Table 27: Norway, offshore rig activity, Phillips Rig 49, Phillips Rig 66, Tor, Snorre A and Snorre B 59
Table 28: Norway, offshore rig activity, Gullfaks A, Gullfaks B, Gullfaks C, Heidrun and Statfjord A 60
Table 29: Norway, offshore rig activity, Statfjord B, Statfjord C, Troll and Veslefrikk A 61
Table 30: Norway, offshore rig activity, West Phoenix, Aker Spitsbergen, Aker Barents and Deepsea Atlantic 62
Table 31: Norway, offshore oil estimated production by company (companies only, excludes not identified, NGLs and wasted), 2010 65
Table 32: Norway, offshore oil estimated production volume by company (includes not identified, excludes NGLs and wasted), 2010 66
Table 33: Norway, offshore natural gas estimated production by company (companies only, excludes not identified and wasted), 2010 69
Table 34: Norway, offshore natural gas estimated production volume by company (includes not identified, excludes wasted), 2010 70
Table 35: Norway, offshore oil & natural gas estimated production (companies only, excludes not identified, NGLs and wasted) by company, 2010 73
Table 36: Norway, offshore oil & natural gas estimated production (includes not identified, excludes NGLs and wasted) by company, 2010 74
Table 37: Norway, top 10 offshore oil estimated production companies (companies only, excludes not identified, NGLs and wasted) by company, 2010 76
Table 38: Norway, top 10 offshore natural gas estimated production companies (companies only, excludes not identified and wasted) by company, 2010 78
Table 39: Norway, top 10 offshore oil & natural gas estimated production companies (companies only, excludes not identified, NGLs and wasted) by company, 2010 80
Table 40: Norway, top 5 offshore oil estimated production companies (companies only, excludes not identified, NGLs and wasted) by company, 2010 81
Table 41: Norway, top 5 offshore natural gas estimated production companies (companies only, excludes not identified and wasted) by company, 2010 82
Table 42: Norway, top 5 offshore oil & natural gas estimated production companies (companies only, excludes not identified, NGLs and wasted) by company, 2010 83
Table 43: Norway, offshore oil estimated production volumes (mm bbl/year) by company 2010–30 85
Table 44: Norway, offshore natural gas estimated production volumes (bcm/year) by company 2010–30 88


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