Westwood Insight – Norway State of Exploration 2012-2021

Exploration activity over the last decade has been impacted by two major oil price crashes and a global pandemic, which have resulted in large fluctuations in drilling costs, exploration performance and discovered volumes. Despite the maturity of the Norwegian Continental Shelf (NCS), Norway continues to be a global hotspot for exploration.

Westwood Insight – The State of Exploration 2022

Oil and gas exploration in 2021 was remarkably resilient despite the COVID-19 pandemic and accelerating energy transition. The high impact well count was maintained year on year, but performance dropped significantly both in terms of discovered resources and success rates.