Proved and Probable (2P) Reserves

In order to calculate our Proven and Probable reserves (2P) we follow the international standards set by the Society of Petroleum Engineers (SPE) and the World Petroleum Congress (WPC). Our reserve estimates include fields currently in production and those under development.

Reserves as at December 2007
As at December 2007, we estimate our 2P reserves to be 352 million barrels of oil equivalents (boe) hereof 77% is natural gas and 23% oil.

Developments on our largest field
Ormen Lange went into production in October 2007 while development will continue through 2015 including a subsea compression pilot programme and a third subsea installation. This second phase of development is expected to include drilling of up to 24 wells forecast under the PDO. Also during this phase, we are considering a fourth subsea installation for the northern part of the field.  Offshore gas compression facilities are planned to be installed between 2013 and 2016 to maintain reservoir pressure.