Our Arctic Neighbors: Norway reduces Barents Sea resource estimate

The Norwegian Petroleum Directorate has updated its resource estimate for the Barents Sea, reducing estimated recoverable resources from 36.4 billion standard cubic feet of oil equivalents to 32.1 billion. In its Resource Report 2009, the NPD says that estimates of volumes of oil and gas in the ground have increased somewhat, but the recognition of poorer reservoir properties than expected, distance to the market and development costs have reduced expectations for the percentage of the resources that can be produced.

In 2010 the resource estimates for the North Sea and the Norwegian Sea will also be updated. Up-to-date resource figures for Nordland VII and Troms II will be released in connection with the revision of the comprehensive management plan for the Barents Sea and the waters off Lofoten.

The Resource Report, published every two years, also notes that companies on the Norwegian shelf are continuously working to improve oil recovery, with gas injection proving to be a very effective method.

“With today’s adopted plans, about 54 percent of the oil will be left in the ground when production ceases,” the report says. “The NPD believes that production can be increased beyond the planned level by using new methods to improve recovery. This can result in significant gains, but it will require extensive cooperation both among the oil companies and with the authorities in order to qualify and test new technologies on the fields.”

—Sarah Hurst