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Minor increase in oil and gas resources on NCS

Thursday, February 20 2025

Fossil Energy – Norway

Total petroleum resources on the Norwegian continental shelf (NCS) saw a minor increase last year, according to last year’s inventory – the Resource Accounts for 2024.

The Resource Accounts for 2024 show a small increase in the total petroleum resources on the NCS. There was an increase in reserves, a reduction in contingent resources and a small increase in undiscovered resources.

The estimates for total resource volumes (including the volume that has been sold and delivered):

• 8 980 million standard cubic metres (Sm³) of liquids

• 6 631 billion Sm³ of gas

• Total of 15 611 million Sm³ of oil equivalent (o.e.)

This amounts to an increase of 36 million Sm³ of o.e. compared with the previous year.

Around 56 per cent of the total resources on the NCS have been sold and delivered. 7 per cent are contingent resources in fields and discoveries. 22 per cent of the total resources have yet to be discovered.

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Filed Under: International projects, NCS, Norway, Oil and Gas, Production, Resources Tagged With: NCS, norway, Oil and Gas, production, Resources

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