Resource report 2026

Resource report 2026
Foreword This report outlines the opportunities available on the Norwegian continental shelf and what is required for these resources to continue creating value for society. Read more
Summary Read more
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Backdrop The Norwegian continental shelf is an important petroleum province with considerable resource potential and can play an important role in long-term value creation. Read more
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Three scenarios up to 2050 The development of the NCS up to 2050 is uncertain. It is influenced by global circumstances and drivers specific to the NCS. Key factors include a decline in production on mature fields, willingness to invest, exploration activity and technological development. Seen as a whole, this creates ample scope to act and pursue opportunities, which in turn forms the basis for the Norwegian Offshore Directorate's scenarios. Read more
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Fields and discoveries Future value creation on the Norwegian continental shelf requires the industry to make good use of existing infrastructure, keep unit costs low, work purposefully to improve recovery and develop discoveries swiftly. Continuous development and use of technology is crucial to increase the proportion of resources that can be developed. Read more
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Exploration Exploration is crucial for future production. Without new discoveries, production decline will accelerate. Today, companies mainly explore in well-explored areas where discoveries are often small. Activity remains low in underexplored areas, where the potential for larger discoveries is greatest. More exploration must therefore be directed towards these areas to ensure sufficient resource growth. Read more
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The player landscape Many of the international companies which were present on the NCS in the 2000s have pulled out, and the shelf is currently dominated by a few Norwegian-based companies. This has many positive aspects in the development and production phase, but can weaken the diversity of ideas and competition needed to develop the remaining resource potential. The challenge going forward is not the number of companies per se, but ensuring sufficient diversity in geological assessments, risk approaches and technology choices. Read more
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