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
13 March 2026
Brussels is again weighing a cap on gas prices amid the Hormuz crisis, but the measure could backfire by deterring the LNG cargoes Europe urgently needs
12 March 2026
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
12 March 2026
LPG could rapidly expand access to clean cooking across Africa and prevent hundreds of thousands of deaths from indoor air pollution each year, but infrastructure shortages and regulatory barriers are slowing investment and market growth
11 March 2026
Missiles over Dubai and disruption in Hormuz are testing the emirate’s reputation—and shaking the energy hub at the centre of the Gulf economy
