The Norwegian Petroleum Directorate (NPD) has unveiled its latest estimate for total proven and unproven petroleum resources on the Norwegian continental shelf (NCS), which currently stand at 15.6 billion standard cubic metres of oil equivalents (bn Sm3 o.e.).
This is an increase in unproven resources of 1.3 bn Sm3 o.e. on 2016, due to a re-evaluation of the northern part of the Barents Sea and the inclusion of additional acreage near the Russian border. 45% of this amount has been sold and delivered already while 47% of Norway's remaining resources have not been proven yet. The remaining resources to be produced are estimated to total 8.5 bn Sm3 o.e., out of which 4.5 bn Sm3 o.e. are proven resources and 4 bn Sm3 o.e. are unproven resources.
Source: Norwegian Petroleum Directorate