Energies Media
  • Magazine
    • Digital Magazine
    • Digital Magazine Archive
  • Features
  • Upstream
  • Midstream
  • Downstream
  • Renewable
    • Solar
    • Wind
    • Hydrogen
    • Nuclear
  • People
  • Events
  • Advertise
No Result
View All Result
Energies Media
No Result
View All Result

Substantial Oil Resources to be Unlocked in Norway Through Increased Recovery Projects

by Energies Media Staff
August 7, 2019
in News, Oil and Gas News
Substantial oil resources to be unlocked in Norway through increased recovery projects
Baker Hughes

Oil Companies Cut Millions in Wrong Places as Clean Energy Reshapes Industry

Texas Consultancy Develops AI to Address Project Challenges in the U.S. Energy Sector

Increased recovery projects in Norway will unlock substantial oil resources, driven predominantly by the majority state-owned Equinor, says GlobalData, a leading data and analytics company.

Daniel Rogers, Upstream Oil & Gas Analyst at GlobalData, comments: “Field expansion projects in Norway remain competitive against ongoing planned greenfield developments, and are projected to unlock vast reserves at viable investment levels.”

Of the identified expansion projects, Troll Phase 3 will cost the lowest on a capital expenditure (capex) per barrel of oil equivalent (boe) basis. It will target an additional 2.2 billion boe, as well as extend field life by 17 years with a project breakeven price of below US$10 per barrel.

Substantial oil resources to be unlocked in Norway through increased recovery projects

GlobalData’s latest research reveals that Norway has the highest number of expansion projects under construction globally, with efforts expected to exceed US$10bn in total capex. National oil companies Petoro and Equinor are set to spend the bulk of upcoming expansion capex, while Wintershall DEA and Var Energi also have significant exposure.

The average oil recovery of producing fields in Norway currently sits around 45 percent, with almost 70 percent for gas fields. These recoveries have been the outcome of advancements in recovery technology coupled with significant investment and government-led initiatives.

Rogers continued: “Norwegian giant Equinor has a strong track record of maximizing recovery from major fields in its home country. The company has been able to achieve greater than 50 percent recovery factors from large fields, including Statfjord and Gullfaks, through enhanced and improved recovery mechanisms. Utilizing innovative technologies, improved production efficiencies, and enhanced recovery practices have been key to Equinor’s success in maximizing value from Norwegian fields.”

Since 2010, nine enhanced oil recovery (EOR) projects commenced operations off the Norwegian continental shelf, compared to just two in the UK during the same period. Less than 10 percent of fields currently producing in Norway are applying EOR techniques, signifying substantial upside for application across additional fields in an effort to boost remaining value and volumes in the country.

About GlobalData
4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.

Author Profile
Energies Media Staff
Website
Author Articles
  • Energies Media Staff
    https://energiesmedia.com/author/oilmanwp/
    Drones
    September 8, 2025
    Revolutionizing Renewable Energy with Advanced Drone Technology
  • Energies Media Staff
    https://energiesmedia.com/author/oilmanwp/
    Global Shale Oil and Gas Landscape Set for Growth Beyond US
    August 26, 2025
    Global Shale Oil and Gas Landscape Set for Growth Beyond US
  • Energies Media Staff
    https://energiesmedia.com/author/oilmanwp/
    E-Fuels
    August 13, 2025
    2nd Annual World E-Fuels Summit
  • Energies Media Staff
    https://energiesmedia.com/author/oilmanwp/
    What Happens to Solar and Wind Systems During Natural Disasters?
    August 6, 2025
    What Happens to Solar and Wind Systems During Natural Disasters?
  • Energies Media Staff
    https://energiesmedia.com/author/oilmanwp/
    ship on body of water at night
    August 1, 2025
    Industry leaders to speak at Wood Mackenzie’s Carbon Capture, Utilization and Storage Conference 2025
  • Energies Media Staff
    https://energiesmedia.com/author/oilmanwp/
    ROGII and NRGX Technologies Ltd. Partner to Deliver Seamless LAS Data Integration for Upstream Workflows
    July 31, 2025
    ROGII and NRGX Technologies Ltd. Partner to Deliver Seamless LAS Data Integration for Upstream Workflows
Qatar
Expo

In This Issue

Energies Media Summer 2025

ENERGIES Media (Summer 2025)


The Hidden Value in Waste Oil: A Sustainable Solution for the Future


Moving Energy Across Space and Time


Energies Media Interactive Crossword Puzzle – Summer 2025


How to Deploy Next-Gen Energy Savers Without Disrupting Operations


NeverNude Coveralls: A Practical Solution for Everyday Dignity


Maximizing Clean Energy Tax Credits Under the Inflation Reduction Act


Dewey Follett Bartlett, Jr.: Tulsa’s Champion of Independents


Letter from the Managing Editor (Summer 2025)


U.S. Oil Refineries Face Critical Capacity Test Amid Rising Demand


ENERGIES Cartoon (Summer 2025)


Meeting Emergency Preparedness and Response Criteria


Bringing Safety Forward in Offshore Operations


Why Energy Companies Need a CX Revolution

E-Fuels
ADIPEC
  • Terms
  • Privacy

© 2025 by Energies Media

No Result
View All Result
  • Magazine
    • Digital Magazine
    • Digital Magazine Archive
  • Features
  • Upstream
  • Midstream
  • Downstream
  • Renewable
    • Solar
    • Wind
    • Hydrogen
    • Nuclear
  • People
  • Events
  • Advertise

© 2025 by Energies Media