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
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
22 January 2026
As Saudi Arabia pushes mining as a new pillar of its economy, Saudi Aramco is positioning itself at the intersection of hydrocarbons, minerals and industrial policy
22 January 2026
New long-term deal is latest addition to country’s rapidly evolving supply portfolio as it eyes role as regional gas hub
