Johan Sverdrup will account for 35pc of NCS oil production once full production is achieved
NCS resource growth hits seven-year high
2021 additions top 500mn bl
Drilling on the Norwegian continental shelf (NCS) added 510mn bl oe of resources last year, the highest annual total since 2014, according to industry watchdog the Norwegian Petroleum Directorate (NPD). Wildcat wells yielded 18 oil and gas discoveries from 40 exploration wells—of which 31 were wildcats and nine appraisal bores—while two additional discoveries were made in production wells with exploration targets. The NPD expects a further 30-40 exploration wells to be drilled this year, according to its director general, Ingrid Solvberg. But it expects overall NCS spend to fall again in 2022, after approximately NOK150bn ($18bn) was invested in fields and developing discoveries in 2021—“som
Also in this section
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
17 February 2026
Siemens Energy has been active in the Kingdom for nearly a century, evolving over that time from a project-based foreign supplier to a locally operating multi-national company with its own domestic supply chain and workforce
17 February 2026
Eni’s chief operating officer for global natural resources, Guido Brusco, takes stock of the company’s key achievements over the past year, and what differentiates its strategy from those of its peers in the LNG sector and beyond
16 February 2026
As the third wave of global LNG arrives, Wood Mackenzie’s director for Europe gas and LNG, Tom Marzec-Manser, discusses with Petroleum Economist the outlook for Europe’s gas market in 2026
