Norways total recoverable reserves are estimated at about corresponding to 29 billion barrels (including already recovered). This is about 1% of that.
Beyond being a handy top up for their sovereign welath fund it is of little intrest.
There has been some people talking about 'west of Shetland'. Anyone know if this is a viable oil region? Id be suprised if something this obvious has been missed but the scuttle but is that its ultradeep etc. Anyone have anything solid?
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massive 300 MMbbl discovered media reports
Re: massive 300 MMbbl discovered media reports
by dorlomin » Fri 13 Jan 2012, 10:30:52
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Re: massive 300 MMbbl discovered media reports
by SeaGypsy » Fri 13 Jan 2012, 11:13:40
I read some chatter about the huge costs involved but I can't find the link, said something about unknown interconnected North Sea fields. It's not going to be more than the original fields in the area, I would bet.
$this->bbcode_second_pass_quote('Pops', 'A')nd even more, J6p sees a big jump in R/P ratio or "Years of Supply" and has no idea that if oil were $1,000bbl we probably would have an infinite supply.
$this->bbcode_second_pass_quote('Pops', 'A')nd even more, J6p sees a big jump in R/P ratio or "Years of Supply" and has no idea that if oil were $1,000bbl we probably would have an infinite supply.
Tanada's 'nukes to hydrocarbons' would be a lot less the $1k a barrel at current conversion?
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Re: massive 300 MMbbl discovered media reports
by rockdoc123 » Fri 13 Jan 2012, 11:21:39
$this->bbcode_second_pass_quote('', 'B')eyond being a handy top up for their sovereign welath fund it is of little intrest.
What it does is open up a new area in the Barents Sea that has been only marginally explored in Norwegian waters. The area is quite attractive as noted by the Stokmanovskaya field which sits in Russian waters adjacent Norwegian waters and has about 3 TCF of gas and 250 MMB of condensate. The Norwegian side of the Barents is largely undrilled other than for an area sitting in shallow waters where a number of smaller discoveries have been made, Snohvit being one. I’ve seen the seismic throughout the area as part of an analysis for the Barents Sea bid round that the Norwegians had several years ago. There are very large structures here that were and still are undrilled. Because of the lack of drilling there were considerable unknowns with respect to reservoir, hydrocarbon maturity and migration. What this discovery does is significantly de-risk the play. The overall potential of the Norwegian Barents could be significant which is why this is an interesting and important discovery. Exploration in the Norwegian Barents is really just starting with Statoil leading the way because of it’s enviable land position. If I remember correctly some of the earlier assessments for potential in the Norwegian sector of the Barents was in the order of 10 – 15 billion boe.
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Re: massive 300 MMbbl discovered media reports
by SeaGypsy » Fri 13 Jan 2012, 11:24:09
Yippee! Another few weeks of happy motoring! 
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