The Norway State of Exploration report is a comprehensive review of exploration activity and performance on the Norwegian Continental Shelf (NCS) over the last decade.
It benchmarks exploration trends across basins, plays, infrastructure hubs and E&P companies, examining how exploration has evolved and what has driven success in one of the world’s more mature offshore petroleum provinces. It also provides a detailed assessment of discoveries and resource progression, compares infrastructure-led exploration (ILX) high impact (HI) exploration and examines Norway’s place in global high impact drilling results.
The report is designed for exploration and subsurface professionals, as well as strategy and business development teams, seeking a deeper understanding of exploration performance trends in Norway for benchmarking and competitor analysis.
Norway State of Exploration 2016-2025
Over the last decade, Norway has remained one of the most active and successful offshore exploration regions globally. Despite the maturity of the basin, exploration has continued to generate commercial discoveries and support future production through a combination of near-field opportunities and selective higher-risk exploration. The report examines how exploration activity has evolved since 2016, highlighting key trends in drilling levels, expenditure, basin focus and changing exploration strategies.
In the decade, 279 exploration well programmes were drilled on the NCS at an estimated cost of US$10.0 billion, resulting in 89 commercial discoveries and c. 2.6 bnboe of discovered resource.
There has been a growing importance of ILX, although high percentages of ILX drilling have been important elements of exploration in previous decades. The report investigates how operators have increasingly targeted opportunities around established producing hubs during the decade, improving commercialisation potential and with a view to shortening development timelines.
Exploration performance is reviewed across the basins and geological plays on the NCS, providing insight into where successful drilling has taken place. The report examines success rates, discovered resources, finding costs and resource progression. Detailed analysis is also provided at company and hub level. The study explores how different companies have approached exploration over the decade and the strategies that have underpinned successful programmes.
Drawing on a decade of drilling, the report provides a strategic assessment of the Norwegian exploration sector, highlighting the factors behind exploration success and helping companies shape future exploration strategies.
Summary
Global state of High Impact exploration (2021 – 2025)
Key findings: High Impact exploration drilling
Norway High Impact exploration in a global context 2021 – 2025
Norway State of Exploration (2016 – 2025)
Exploration activity
Activity and well cost trends
Activity by basin
Activity by play
High Impact (HI) v Infrastructure-Led Exploration (ILX) activity
Exploration performance
Resource progression
Performance by basin
Performance by play
HI v ILX performance
ILX performance by hub
Company analysis
Company activity and performance
Company highlights
Company strategies
2026 year to date and outlook
Data, definitions and assumptions
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