In 2016, our presence in Norway was focused on our Upstream business.
Net surface area
of mineral rights
barrels of oil
equivalent per day
Net proved reserves
million barrels of oil
equivalent per day
As of December 31st, 2016, we owned mineral rights to 34 blocks in Norway: 18 exploration blocks with a net surface area of 4,304 km2 and 16 production/development blocks with a net surface area of 343 km2.
In 2016, net production totaled 7.4 Mbbl of liquids and 16.1 bscf of natural gas, with an equivalent total net production of 10.3 Mboe (28,130 boe/d). Net proved reserves of liquids and natural gas at year-end were estimated at 12.7 Mboe.
- In the first half of 2016 and effective on January 1st, 2016, we completed the divestment of 10 % of the PL 148 license, Brynhild field operated by the company Lundin, in Norway, in favor of CapeOmega.
- On June 1st, the operation of the field operated by Varg in Norway ceased. In the second half of 2016, the FPSO operated by Teekay for Varg's production abandoned the field. This work is included in the first phase of the Varg dismantling project.
- On August 22nd, the MOPU Yme (Yme field offshore production platform) was successfully withdrawn from its location in Norwegian waters, in accordance with the commitment acquired with Norwegian authorities and partners, in order to complete this phase before the end of October. The Yme field was discovered in 1987 and is located in blocks 9/2 and 9/5, in the Egersund basin, approximately 100 km off the Norwegian coast. A single lift of 13,500 tons of surface elements was performed using the Pioneering Spirit for the first time, the world's largest heavy-lift ship. In order to cut the platform pillars, a series of tools specifically designed for such purpose were used, which were placed inside the pillars and remotely operated from the ship. The withdrawal work was completed without incident. Never before had a 13,500-ton structure been withdrawn from the sea in such a manner, lifting and transporting it to shore for dismantling.
- In 2016, the Gudrum field (in which Repsol holds a 15% stake after the agreement entered into in December 2015 with Statoil in exchange for a 13% stake in Eagle Ford in the United States) exceeded production expectations, accounting for nearly 50% of Repsol's net production in the whole country.
Information on net production, net proved reserves, and mineral rights as of December 31st, 2016