Billion NOK

(1)

Fakta 2005

(2)

Kapittel 1

(3)

Production level and start-up date for important fields

Source: NPD/MPE

0 50 100 150 200 250 300 350

1971 1978 1985 1992 1999 2006 2013 2020 2027

Crude oil NGL Gas Ekofisk

Frigg

Statfjord

Oseberg

Sleipner Øst Troll II, Heidrun

Troll I, Sleipner Vest

Åsgard Ormen Lange

Gullfaks

Kristin

Snøhvit

(4)

The largest oil producers and exporters in 2004

9,20 9,02 7,62 3,96

3,83 3,49 3,19 3,08 2,60 2,35

0 2 4 6 8 10

Russia Saudi Arabia USA Iran Mexico China Norway Canada Venezuela UAE

millions of barrels/day

7,04 6,47 2,93

2,47 2,10 2,04 2,01 2,01 1,76 1,51

0 2 4 6 8

Saudi Arabia Russia Norway Iran Venezuela Nigeria UAE Kuwait Mexico Iraq

millions of barrels/day

Oil production including NGL and condensate Net oil export including NGL and condensate

Source: Petroleum Economics Ltd.

(5)

Macroeconomic indicators for the petroleum sector

21 % 28 %

47 % The petroleum sector’s share of GDP

The petroleum sector’s share of total exports

The petroleum sector’s share of total investment

The petroleum sector’s share of state revenues

Source: Statistics Norway, Ministry of Finance

24 %

(6)

The size of the Petroleum Fund at 31.12.04 and as a share of GDP

Source: Norwegian Public Accounts, Statistics Norway

0 200 400 600 800 1000 1200

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

Bi llio n N O K

0 % 10 % 20 % 30 % 40 % 50 % 60 % 70 %

Value of the fund as of 31.12 Share of GDP

(7)

Reserv es

Improv ed recov ery

Discov eries

Undiscov ered resources

0 50 100 150 200 250 300 350

2003 2005 2007 2009 2011 2013 2015 2017 2019 2021 2023 2025 2027 2029

Million scm oe/year

Production forecast

Source: NPD/MPE

(8)

Historic investments and forecasted future investments

0 10 20 30 40 50 60 70 80 90

1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012

B illio n N O K ( 2 0 0 5 -v a lu e )

Decided projects and pipelines/onshore Not decided projects

Source: NPD/MPE

(9)

Kapittel 2

(10)

Stortinget (Parliament)

The Government

Ministry of Petroleum and Energy

The Norwegian Petroleum Directorate

Ministry of the Environment

The Norwegian Pollution Control Authority

Minstry of Labour and Social Affairs

The Petroleum Safety Authority

Norway

Ministry of Finance

Government Petroleum

Fund

Petroleum Tax Offices Petoro AS

Gassco AS

Statoil ASA

Ministry of Fisheries and Coastal Affairs

Norwegian Coastal Administration

Statleg organisering av petroleumsverksemda

(11)

Kapittel 3

(12)

Exploration wells started on the NCS 1966-2004

0 10 20 30 40 50 60

1966 1972 1978 1984 1990 1996 2002

Num ber of exploration wells started

Wildcat wells Appraisal wells

Source: NPD

(13)

Kapittel 4

(14)

Distribution of all production by field on the NCS

Oseberg 18 %

Gullfaks 18 %

Statfjord 17 % Ekofisk

8 % Others

39 %

Statfjord 4 % Grane

4 %

Oseberg 5 %

Heidrun 5 % Draugen

5 % Gullfaks

6 % Snorre Troll 7 %

11 % Others

39 %

Ekofisk 10 %

Norne 4 %

Oil production in 1995 by field Oil production in 2004 by field

Source: NPD

(15)

Distribution of resources – on-stream fields

-800 -600 -400 -200 0 200 400 600 800

EKOFISK TROLL SNORRE VALHALL ELDFISK HEIDRUN OSEBERG STATFJORD GULLFAKS GRANE OSEBERG SØR BALDER GULLFAKS SØR ÅSGARD BRAGE NJORD DRAUGEN TOR VISUND ULA NORNE VIGDIS OSEBERG ØST TORDIS VESLEFRIKK GYDA FRAM STATFJORD NORD HOD KVITEBJØRN JOTUN EMBLA VARG STATFJORD ØST TAMBAR GLITNE SYGNA MURCHISON TUNE SKIRNE

Mill s cm o il

Produced Remaining reserves Resources remaining after planned abandonment

Source: NPD

(16)

Production trends for the Ekofisk, Varg, Oseberg og Ula fields

0 10 20 30

1971 1981 1991 2001

Oil rate (mill scm per annum)

0 1 2

1998 2000 2002 2004

0 10 20 30 40

1985 1990 1995 2000 2005

0 5 10

1985 1990 1995 2000 2005

Ekofisk Varg

Oseberg Ula

PDO

Actual production

Source: NPD

(17)

Lifetimes for selected fields

Source: NPD

(18)

Social accounts 1969-2004 for Ekofisk

Goods and services 444 billion

Taxes and levies 626 billion Employees 50 billion

Lenders 24 billion

Owners 132 billion

Total value creation from the Ekofisk sector to the end of 2004 (at 2004 values) was NOK 1 260 billion

Source: ConocoPhillips

(19)

kapittel 6

(20)

Historic and estimated Norwegian gas exports

Source: NPD/MPE

0 20 40 60 80 100 120 140

1974 1979 1984 1989 1994 1999 2004 2009 2014 2019 2024

bn scm

(21)

Sales of NGL/condensate 2004*

Belgium 2,6 %

France 3,8 %

Netherlands 17,8 %

Norway 19,8 % Turkey

3,9 % UK 4,7 % Sweden

8,5 % Germany

1,9 % USA 18,3 %

Others

7,6 % Finland

2,0 %

Mexico 2,2 %

Denmark 6,9 %

Total 21,1 mill scm oe

Source: NPD

* by country of first destination

(22)

Norwegian natural gas exports 2004

Belgium 9,8 %

Poland 0,6 % Spain

3,0 % UK

14,4 % Italy

7,6 %

Denmark 0,1 % Austria

0,9 % Czech

2,7 %

Netherlands 8,4 % Germany

31,8 %

France 20,7 %

Total 77,7 bill scm oe

Source: NPD

(23)

kapittel 7

(24)

The net government cash flow from petroleum activities

Source: National Accounts and National Budget

-20 20 60 100 140 180 220 260 300

1971 1975 1979 1983 1987 1991 1995 1999 2003

Bn N O K 2005 val ue

SDFI

Statoil Dividend CO2 Tax

Royalty and Area fee Taxes

State net cash flow

(25)

National Budget 2005

NOK billion

203,4 Total

5,2 Statoil dividend

80,2 SDFI

4,5 Royalty, CO2-tax, Area fee

113,6 Direct taxes

(26)

Calculation of petroleum tax

=

÷

=

÷

Special tax base (tax rate: 50%)

Linear depriciation for investments (6 years) Exploration expenses

Operating income (norm price)

Uplift (7,5% for investment for 4 years) Corporation tax base (tax rate: 28%)

Net financial costs (limitied by the thin capitalisation rule:

20% equity)

CO ² -tax and area fee Operating expenses

Source: MPE

(27)

kapittel 8

(28)

Emissions of taxable CO ₂ per produced unit

0,0 10,0 20,0 30,0 40,0 50,0 60,0

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 kgs o f C O

2

pe r ne t pr oduc e d s c m o. e .

Source: NPD

(29)

Emissions of NO _x per produced unit

0,000 0,050 0,100 0,150 0,200 0,250

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 kgs of N O

x

per net pr oduced scm o. e.

Source: MPE/NPD

(30)

nmVOC emissions per produced unit

0,00 0,20 0,40 0,60 0,80 1,00 1,20

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003

kgs o f n m V O C /scm o. e.

Source: MPE/NPD

(31)

Content of production, injection and pipeline chemicals in produced water

0,0 20,0 40,0 60,0 80,0 100,0 120,0 140,0 160,0 180,0 200,0

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003

g/ m

3

Source: Environment Web

(32)

Emissions to the air

Diffusive emissions

Gas turbine exhaust

Well testing

Gas flaring

Diesel fuel exhaust Gas venting

(33)

Discharges to the sea

Seewage/house- hold effluents

Drains

Drilling discharges

Displacement water Spill

Cooling water

Produced water

(34)

kapittel 9

(35)

Petroleumsressursar og uvissa i estimata per 31.12.2004

Source: NPD

(36)

appendix

(37)

The net government cash flow from petroleum activities

-20 20 60 100 140 180 220 260 300

1971 1975 1979 1983 1987 1991 1995 1999 2003

Bn N O K 2005 val ue

SDFI

Statoil Dividend CO2 Tax

Royalty and Area fee Taxes

State net cash flow

(38)

Total petroleum production

Source: NPD/MPE

0 50 100 150 200 250 300

1971 1974 1977 1980 1983 1986 1989 1992 1995 1998 2001 2004

Oil NGL Gas

(39)

Macro economic indicators for the petroleum sector

0 10 20 30 40 50

1971 1974 1977 1980 1983 1986 1989 1992 1995 1998 2001 2004

per cent

Share of GDP Share of inv estments Share of exports Share of state rev enues

Source: Statistics Norway, Ministry of Finance

(40)

NPD’s resource classification system

8 Prospects

7F

New discoveries that have not been evaluated

6 Recovery

not very likely

5F Recovery,

likely but not clarified

5A

4F In the planning

phase 4A

3F Licensees

have decided to recover

3A

2F

Approved develop- ment and operation plan