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The way forward on the Norwegian Continental Shelf - into the Arctic oceans

The way forward on the Norwegian Continental Shelf - into the Arctic oceans. Brussels, March 6th 2012 Øivind Dahl-Stamnes, VP North Area Initiative, Statoil. Why Arctic ? – and why now ?. A key role in meeting future demand. Arctic Alaska/Beaufort ~73 Bboe. West Siberia ~133 Bboe.

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The way forward on the Norwegian Continental Shelf - into the Arctic oceans

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  1. The way forward on the Norwegian Continental Shelf - into the Arctic oceans Brussels, March 6th 2012Øivind Dahl-Stamnes, VP North Area Initiative, Statoil

  2. Why Arctic ? – and why now ? A key role in meeting future demand Arctic Alaska/Beaufort~73 Bboe West Siberia~133 Bboe Ice coverSummer 2011 Greenland/E. Canada~52 Bboe East Barents~60 Bboe * US Geological Survey estimates 2008 • Significant HC potential • Increased world demand • Technology makes it possible • Key elements in a sustainable Arctic development • Competence/Technology • Step-by step approach

  3. Snøhvit Melkøya Norne Heidrun Åsgard Statfjord Haltenpipe ÅTS Ormen Lange Nyhamna Troll Frigg Kollsnes Vesterled Kårstø Sleipner St Fergus Europipe II Ekofisk Europipe I Langeled Norpipe Zeepipe I Teesside Franpipe Easington Emden/Dornum Zeebrügge NCS First step – 1985 Fourth step – 2006-2011 Third step - 2000 Second step - 1996 Status 1979 Flags Tampen Link Gjøa Dunkerque

  4. The Snøhvit field, 2007-2040+ State of the art technology in Arctic conditions • World’s northernmost LNG facility at 70 deg. North, 5 mill. tons/year • No surface facilities offshore, no conflict with fishing interests • World’s longest unprocessed multiphase pipeline - 143 km • Injection/Storage of CO2 equal to emissions from 280,000 vehicles

  5. 2011 - The direction is set Discovery at Skrugard / Havis Important policy milestones – key industry developments Management plan Barents Sea White paper on oil and gas White paper on the High North Discovery atJohan Sverdrup Barents Sea Delineation Agreement Norway/Russia

  6. The NCS north of the Arctic Circle A new oil and gas region Norne Arctic circle • Project development • Goliat, Luva, Snøhvit Future and Skrugard/Havis • 500.000+ boe/day in 2020 • Increased exploration efforts • 22. license round • Opening Barents Sea Southeast in 2013 (former disputed zone)

  7. The Norwegian Arctic A future source of energy to Europe European Gas Demand/Supply (bcm) Large Norwegian gas resources to meet future demand Proximity to markets 800 Pipeline Reserves LNG Contingent resources in fields 600 Contingent resources in discoveries Norway Undiscovered resources Billion Sm3/year Gap ~250 BCM 400 Russia 200 1255billion scm3 2042billion scm3 1255billion scm3 2042billion scm3 2007 2012 2017 2022 2027 357 357 293 Algeria 293 4% natural decline prod. fields Demand IEA Ref scenario Demand IEA 450 scenario Source: IEA Source: Norwegian Oil- and Energy Department, per 31.12.2010

  8. The Barents Sea A gateway to the Arctic Ice coverFebruary 2012 30+ years of Arctic activity Mostly ice free Proximity to markets Stable and predictable framework

  9. The way forward on the Norwegian Continental Shelf - into the Arctic oceans Øivind Dahl-Stamnes VP North Area Initiative www.statoil.com

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