f The Norwegian shelf - 50 years of exploration, and still attractive

The Norwegian Petroleum Directorate (NPD) is a government institution responsible for maintaining a complete inventory of petroleum resources in Norway. This is done in accordance with established resource classification routines, regular reporting from the oil companies and NPD’s geological mapping. NPD compile and publish annually figures on field reserves, contingent resources and YTF resources. Assessments of undiscovered resources is done by applying a stochastic play model method. The remaining undiscovered resources reflect the exploration potential with today’s knowledge and understanding. As new exploration activity proves up new petroleum plays, the potential is adjusted accordingly. This is an estimate of what will be technically possible to find and produce if all prospects are identified and drilled.