07 Jul Exploration investment pays off in NCS
London, (Oilandgaspress) – Exploration on the Norwegian continental shelf (NCS) is highly profitable. Over the past 20 years, capital invested in exploration has generated a fourfold return.
This is documented in analyses carried out by the Norwegian Offshore Directorate in its work on the Resource Report. The report is published on sodir.no every two years, most recently in 2024. The next report will be made available in August.
One of the topics addressed is the profitability of exploration. Exploration on the NCS has always paid off. This applies to all offshore areas. In recent years, the discoveries have been smaller, but the return remains good.
More exploration needed
Much of the exploration has been carried out within proximity of previous discoveries and already developed infrastructure. These are areas where the geology is well known. Discoveries close to existing infrastructure are easy to develop via subsea tie backs. This in turn enables high profitability, extended infrastructure life and favourable revenues for the companies and the state.
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