During his speech at the Arctic Region Oil & Gas Conference in Stavanger, Tuesday, Mr Nicolaisen said that Norway has already taken a leadership role in the Arctic.
“The Barents Sea on the Norwegian Continental Shelf will drive growth in the Arctic. The Sakhalin project in Russian waters will also be important in the future. We also believe Shtokman could begin in 2022 with a new type of solution.”
17 wells will be drilled this year in the Barents Sea on the Norwegian Continental Shelf. According to Rystad Energy, this figure is to rise to 29 wells in 2020. Long-term production
By comparison, drilling two offshore wells in Arctic waters in Alaska is planned this year, and this number will increase to nine in 2020. This is slightly dependent on how Shell's drilling campaign progresses.
11 wells are planned on the east coast of Canada in 2013, and it is expected this figure will rise to 15 wells in 2020. On the Russian Continental Shelf, four exploration wells are planned drilled this year, and around 18 in 2020. “The exploration we do today will turn into production well into the future. We must reckon with lead times of around 21 years in these areas. It’s important to remember that exploration today doesn’t mean production tomorrow,” declared Lars Eirik Nicolaisen.
“Offshore production in the Arctic will increase the most post-2020, so this is an important energy source forward in time when production in other parts of the world falls. Major growth in the Arctic will occur after 2030,” he added.