Interesting article about recent and near term exploration in UK and Norway offshore regions.
In the last five years, 121 discoveries have been made in the UK and Norway, of which 41 are currently considered potentially commercial. Only four (3%) of the 121 discoveries were >100 mmboe and all four targeted play opening frontier prospects. Two of the discoveries, Lincoln and Halifax, are within the West of Shetland fractured basement play and are classified as non-commercial pending successful production tests. The other two discoveries, Wisting Central and Alta targeted frontier plays in the Barents Sea, and are considered potentially commercial following appraisal, but are as yet unsanctioned.
Achmelvich got a lot of attention with BPs 2017 annual report, but it’s only around 25 mmbbls. Wisting is in the north Barents Sea, it will be an interesting, but expensive, project should it proceed: apart from it’s location the reservoir is low pressure and highly compartmentalised.