By Stephen Coomber, Senior Analyst, Westwood Global Energy Group
As of 19 December, Westwood Global Energy reports that there are three exploration wells active, with one in the Barents Sea, one in the Norwegian Sea, and one in the North Sea. One exploration well is suspended.
As the European Union and the UK both scramble to replace Russian fossil fuel supplies, gas in particular, Norway has signalled its intention to step up as the partner of choice.
With oil consistently above the $100/barrel threshold, demand for rigs is set to continue its ramp up, with the North and Barents Seas marked as hotspots, according to data from rig analysts Esgian.
Westwood Global Energy reports that there were three exploration wells active as of 24 January. One exploration well has spudded and completed in 2022.
Westwood Global Energy reports that there were two exploration wells active as of 29 November. A total of six appraisal wells and 27 exploration wells have completed to date in 2021, from which ten commercial discoveries have been made giving a 37% commercial success rate to date.
Westwood Global Energy reports that there was one exploration well programme active as of May 27, plus one development programme with an exploration sidetrack planned. One exploration well programme was completed and one exploration well programme spudded in May.
Four exploration wells and one appraisal well were active in Norway at the end of September. Three wells were completed and one well spudded in September.
By Dave Moseley, senior technical analyst, Westwood Global Energy Group
Westwood Global Energy reports that there were six active exploration wells and one active appraisal well at the end of July. Since the last report, five exploration wells have spudded and six E&A wells have completed on the Norwegian Continental Shelf.
By Dave Moseley, senior technical analyst, Westwood Global Energy
Westwood Global Energy reports that there were five active exploration wells and two active appraisal wells as of June 25. Since the last report, six wells have spudded and four have completed.
A report due to be published by the Norwegian Petroleum Directorate (NPD) today will claim there are still "plenty" of oil and gas discoveries to be made in the North Sea, the Barents Sea and the Norwegian Sea.