10 May 2024
Norwegian Continental Shelf development costs down by 44% – NPD
Publication date: 31 August 2016
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Industry efficiency and lower equipment costs have driven down the cost of field development on the Norwegian Continental Shelf by 44% since autumn last year, according to analysis by the Norwegian Petroleum Directorate (NPD).
At eight projects surveyed by NPD – Utgard, Oda, Zidane, Trestakk, Snilehorn, Johan Castberg, Snorre Expansion and Johan Sverdrup Phase 2 – costs had fallen from NOK 270 billion (USD 32 billion) to NOK 150 billion (USD 18 billion) over the period.