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Discovered resources

Discovered resources

High production and relatively good reserve replacement

Gas and liquids production was high in 2025. Despite few new development plans, licensees on the fields have replaced three of five produced barrels with new reserves. The volume of contingent resources in fields has declined. Contingent resources in discoveries have increased. Overall, remaining discovered resources have been reduced by about one-half of last year's production.

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Discovered resources consist of reserves, contingent resources in fields and contingent resources in discoveries. As per 31 December 2025, these resources amount to 3,273 million Sm3 o.e., a reduction of 112 million Sm3 o.e. from 2024 to 2025. 

Figure 2-1 illustrates how the volumes in the remaining discovered resources have changed since 2024. Production was high in 2025. Gross reserves increased and replaced parts of produced volumes. The decline in contingent resources in fields was partly offset by the increase in contingent resources in discoveries. 

Figure 2-1 This figure provides an overview of changes in discovered resources from 2024 to 2025. The X axis starts at 3,000 million Sm3 o.e. to highlight the changes.

Fields 

The Norwegian Offshore Directorate's resource classification system  defines petroleum resources as reserves once the operator has submitted a plan for development and operation (PDO) or has decided to implement a measure to optimise recovery that does not require a PDO. 

Discoveries are classified as fields once the authorities have approved a PDO. Ninety-seven fields were in production at year-end. In 2025, the Verdande and Halten Øst fields in the Norwegian Sea and Johan Castberg in the Barents Sea started production. 

The authorities approved one PDO and two PDO exemptions in 2025. 

Reserves 

The Resource Accounts for 2025 (Table 1-1) reflect a total of 815 million Sm³ of oil and 1,219 billion Sm³ of gas in remaining reserves on the continental shelf. The increase in gross reserves from 2024, incl. NGL and condensate, amounts to 146 million Sm3 o.e. PDO/PDO exemptions have contributed to parts of the increase in gross reserves. Some fields have increased their reserves as a result of additional wells, optimisations and lifetime extensions. Model updates have led to increases and reductions on certain fields. 

The Troll and Johan Sverdrup fields have the largest remaining reserves on the NCS, with 559 billion Sm3 of gas and 193 million Sm3 of oil, respectively. Estimates of reserves and historical production for each field can be found on the Norwegian Offshore Directorate's FactPages. 

The changes in gross reserves (including produced quantities) between 2016 and 2025 are illustrated as columns in Figure 2-2. The production is replaced by reserve growth in the years where the columns exceed production (shown with the dotted line). 

Figure 2-2 This figure shows annual gross reserve changes and production for liquids and gas over the last ten-year period. The percentages reflect annual reserve replacement.

The reserve replacement rates for liquids and gas in 2025 were 53 and 67 per cent, respectively. Several fields reported an increase in remaining reserves. Production and new production decisions also affect reserve replacement.

1,136 million Sm³ of liquids have been produced over the last ten years, and the Resource Accounts show that the remaining reserves are 280 million Sm³ lower than in 2016. This means that the reserve replacement rate for liquids has been 72 per cent over the last 10 years.

1,197 billion Sm³ of gas have been produced over the last ten years, and the Accounts show that the remaining reserves are 563 billion Sm³ lower than in 2016. This yields a gas reserve replacement rate of 46 per cent over the last ten years. 

Contingent resources in fields 

The expected value for contingent liquids resources in fields is 319 million Sm³ o.e.; see Table 1-1. This is a reduction of 39 million Sm³ o.e. from 2024. The expectation for gas is 263 billion Sm³ ─ a reduction of 31 billion Sm³ from the previous year. 

The Resource Accounts for 2025 include 145 concrete - but not yet adopted - projects for improved petroleum production and extended lifetime.

Projects to improve recovery are dominated by new wells, both in the number of projects (75) and volume (about 130 million Sm³ o.e.). Other measures that could provide substantial contributions are further developments, low pressure and late-phase production.

Fewer measures have been identified which utilise new injection or advanced methods. Figure 2-3 shows a summary of these projects distributed by project type with associated resources distributed between liquids and gas. 

Figure 2-3 This figure shows concrete projects for improved recovery from fields; number of projects and resources. 

Discoveries 

Contingent resources in discoveries 

In 2025, there were a total of 91 discoveries in the portfolio with a total resource estimate of 526 million Sm3 o.e., distributed between 53 per cent liquids and 47 per cent gas; see Table 1-1.

The total volume in discoveries has increased by 54 million Sm3 o.e. compared with last year's Accounts. This increase was caused by the convergence of multiple factors. There was high resource growth from exploration activity in 2025. Several older discoveries also have a changed status. These discoveries were previously excluded from the contingent resources because development was deemed unlikely, but they are now covered by this class and therefore contribute to the increase in total resources.

Figure 2-4 shows an overview of developments in the number of discoveries in the portfolio through 2025; the lower diagram shows the equivalent for resources in discoveries.

It is also evident from the figure that a decision was made to develop one discovery in 2025, where resources have been matured to reserves. Nine discoveries were also included in fields or other discoveries as resources where development is possible. The figure shows the total volume of all discoveries made in 2025, while the text below only addresses the discoveries included in the Resource Accounts.

Figure 2-4 The upper part of the figure shows the development in the number of discoveries in the discovery portfolio through 2025. Categories in light blue reflect contributions to growth and categories in orange reflect contributions to a reduction in the number of discoveries. 

The lower part of the figure shows resource development in the discovery portfolio through 2025. Categories in light blue reflect contributions to growth and categories in orange reflect contributions to a reduction in the resources in discoveries. 

Twenty-one discoveries were made on the NCS in 2025, 16 of which are included in the Resource Accounts, as four discoveries have been incorporated into fields and one is considered unlikely to be developed. The total resource estimate for the 16 discoveries is 62 million Sm3 o.e. Nine of these discoveries were made in the North Sea:

Three discoveries were made in the Norwegian Sea:

Four discoveries were also made in the Barents Sea:

The five discoveries not included in the current portfolio for future developments include four discoveries now incorporated in fields and one discovery which is considered to be an unlikely development.

The following discoveries have been included in fields:

The discovery whose development is unlikely is 7220/5-4 (Skred).

Figure 2-5 shows resources in the total of 91 discoveries in the portfolio. This portfolio consists of historical discoveries where development is likely. Most discoveries were made in the North Sea, with the 35/2-1 (Peon) gas discovery as the largest. The largest in the Norwegian Sea is 6406/9-1 (Linnorm), and 7324/8-1 (Wisting) is the largest discovery in the Barents Sea. 

Figure 2-5 This figure shows the discovery portfolio in the Resource Accounts. 

Figure 2-6 shows that several of these discoveries are slated to be phased in. Subsea developments are the most common development concept. This is the most likely solution for 79 of the discoveries. Another possible solution for smaller discoveries close to infrastructure is to use vacant well slots on existing fields. This is the presumed solution for a total of eleven discoveries. 

Figure 2-6 This figure shows likely development solutions for discoveries in this year's Resource Accounts, as well as total resources per development solution.

Updated: 2/27/2026

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