Grane,Norway, Commercial Asset Valuation And Forecast To 2027 Now Available On ReportsandReports
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Grane is an oil field located on the western coast of Norway in block 25/11 of the North Sea, 185km west of Haugesund city. The field is located at a water depth of 128m and a reservoir depth of 1,700m. The reservoir extent covers an area of 10 sq km. It has average pay thickness of 50m, average porosity of 33% and permeability of 5-10 Darcies. The oil is contained within the Heimdal Formation sands of Paleocene age. Grane is the first field on the Norwegian continental shelf to produce heavy crude oil.
The Grane field was discovered in the year 1991. But, the production started in 2003. This field reached its peak production on March 10, 2006. The field is estimated to be abandoned by year 2027. The Grane field contains crude oil of API 18.7° and sulfur content 0.83%.
Statoil Petroleum AS is the operator of this offshore field with majority equity stake of 36.67%. The other equity holders in this field are Petoro AS (28.94%), ExxonMobil Exploration & Production Norway AS (28.22%) and ConocoPhillips Skandinavia AS (6.17%).
An integrated accommodation, processing and drilling platform has been used for Grane field development. The platform consists of a fixed steel frame construction lying on the seabed. The gas is being injected into the field for enhanced oil recovery. The gas has been brought from Heimdal gas center through a 50km long Grane gas pipeline. The crude oil is transferred to Sture terminal through a 220m long Grane oil pipeline.
A total of 40 wells have been planned in this field. Out of these 40 wells, 31 wells are oil producing wells, four wells are water injection wells and five wells are gas injection. Several new multilateral wells are being planned. The first water injection well is planned to be drilled in 2010.
The field contains approximately 1,270 million barrels of oil in-place, and recoverable reserves are estimated to be at around 700 million barrels. The field life of Grane is expected to be around 25 years with complete abandonment during 2027. The field is expected to generate 17.20 billion in revenues (undiscounted) during its remaining life (starting January 1, 2010) and is expected to yield an IRR of around 17.93%.
Scope
- The report provides detailed information on oil and gas production, infrastructure, reserves, geology, operator and equity partners and the latest fiscal terms applicable to the asset and provides its fair value (Remaining Net Present Value) based on remaining reserves, forecast production, capital and operational costs, fiscal regime and commodity prices.
- The report also provides additional valuation parameters like Internal Rate of Return (IRR), Profitability Index (PI), Pay Back (discounted and undiscounted), Entitlement Production (EP) and Working Interest (WI) to enhance your decision making process.
- This report provides detailed sensitivity analysis of the remaining NPV with changes in the commodity prices, discount rate, production and key fiscal terms.
- Detailed cash flows over the life of the asset are included in the report. These cash flows cover a wide range of calculations related to various payments to the government/licensing authority.
- Interactive Excel models can be used to derive custom valuations, sensitivities and cash flows based on the specific inputs by the user in the model. These custom inputs vary from production data, cost information, price information and fiscal terms information.
Reasons to buy
- Make well informed investment decisions based on detailed operational analysis and cash flow forecasts
- Estimate the fair value of your future investment under different economic and fiscal conditions
- Value a prospective investment target through a comprehensive analysis using focused forecasting and valuation methodologies.
- Supporting interactive excel model will enhance your decision making capability in a more rapid and time sensitive manner
- Evaluate how the changes in the country’s fiscal policies impact the cash flows and the present value of the asset
Table of contents
1.1 List of Tables 4
1.2 List of Figures 4
2 Grane, Norway, Introduction 5
3 Grane, Norway, Geology and Formations 6
4 Grane, Norway, Equity Details 8
5 Grane, Norway, Crude Oil Reserves 8
6 Norway, Fiscal System 9
6.1 Contract Type 9
6.2 State Participation 9
6.3 Fees 9
6.4 Special Petroleum Tax 10
6.5 Taxation 10
6.6 Carbon Dioxide Tax 10
6.3 Fees 9
6.4 Special Petroleum Tax 10
6.5 Taxation 10
6.6 Carbon Dioxide Tax 10
7 Grane, Norway, Infrastructure 10
7.1 Upstream infrastructure 10
7.1.1 Oil and Gas Production 10
7.1.2 Grane Platform 11
7.2 Midstream Infrastructure 11
7.2.1 Oil Pipeline 11
7.2.2 Gas Pipeline 11
8 Grane, Norway, Development Plan 11
8.1 Capital and Operating costs 11
8.2 Estimated capital cost for the development of Grane, Norway 11
8.3 Plans for Development 12
8.4 Development Methodlogy to Enhance Production 12
8.2 Estimated capital cost for the development of Grane, Norway 11
8.3 Plans for Development 12
8.4 Development Methodlogy to Enhance Production 12
9 Grane, Norway, Crude Oil Production 12
9.1 Full crude oil production forecasting for the field life from 2003-2027 13
10 Grane, Norway, Economics 14
10.1 Grane, Economic Assumptions 14
10.1.1 Forecast Commodity Prices 14
10.1.2 Inflation 14
10.1.3 Discount Rate and Representation of Cash Flows 14
10.1.4 Sensitivity 14
10.1.5 Access to the Economic Model 14
10.2 Grane, Norway, Cash Flow Analysis 15
10.3 Grane, Norway, Remaining PV Sensitivity Analysis 16
10.3.1 Remaining NPV Sensitivity to Discount Rates 16
10.3.2 Remaining NPV Sensitivity to Change in Commodity Prices and Production 17
10.3.3 Remaining NPV Sensitivity to Income Tax and Production Rate 18
10.1.4 Sensitivity 14
10.1.5 Access to the Economic Model 14
10.2 Grane, Norway, Cash Flow Analysis 15
10.3 Grane, Norway, Remaining PV Sensitivity Analysis 16
10.3.1 Remaining NPV Sensitivity to Discount Rates 16
10.3.2 Remaining NPV Sensitivity to Change in Commodity Prices and Production 17
10.3.3 Remaining NPV Sensitivity to Income Tax and Production Rate 18
11 Grane, Norway, Summary Cash Flows 19
11.1 Grane, Norway, Front End Load Estimations 21
11.2 Grane, Norway, Tax Liability 22
11.2 Grane, Norway, Tax Liability 22
12 Appendix 23
12.1 Methodology 23
12.2 Coverage 23
12.3 Secondary Research 23
12.4 Primary Research 23
12.5 E&P Forecasts 23
12.3 Secondary Research 23
12.4 Primary Research 23
12.5 E&P Forecasts 23
12.6 Capital Costs 24
12.7 Exploration and Appraisal (E&A) Costs 24
12.8 Operating Costs 24
12.9 Expert Panel Validation 24
12.10 About GlobalData
12.11 Contact Us
12.12 Disclaimer
12.10 About GlobalData
12.11 Contact Us
12.12 Disclaimer
1.1 List of Tables
Table 1: Grane, Norway, Key Asset Data, 2010 5
Table 2: Grane , Newfoundland, Norway, Reserves Estimation, 2010 8
Table 3: Grane, Norway, Commercial Crude Properties, 2010 9
Table 4: Grane, Norway, Capital Cost Estimate, 2010 11
Table 5: Grane, Norway, Production Forecasting, 2003-2027 13
Table 6: Grane, Norway, Commodity Price Assumptions, 2010-2027 14
Table 7: Grane, Norway, Project Analysis Metrics, 2010 15
Table 8: Grane, Norway, Remaining PV Sensitivity Analysis Over Discount Rate Vs. Commodity Price Change, in Billion Dollars, 2010 17
Table 3: Grane, Norway, Commercial Crude Properties, 2010 9
Table 4: Grane, Norway, Capital Cost Estimate, 2010 11
Table 5: Grane, Norway, Production Forecasting, 2003-2027 13
Table 6: Grane, Norway, Commodity Price Assumptions, 2010-2027 14
Table 7: Grane, Norway, Project Analysis Metrics, 2010 15
Table 8: Grane, Norway, Remaining PV Sensitivity Analysis Over Discount Rate Vs. Commodity Price Change, in Billion Dollars, 2010 17
Table 9: Grane, Norway, Remaining PV Sensitivity Analysis over Commodity Price Change Vs Production Rate, in Billion Dollars, 2010 18
Table 10: Grane, Norway, Remaining PV Sensitivity Analysis at 10% Discount Rate over Income Tax Change Vs Production Rate, in Billion Dollars, 2010 19
Table 11: Grane, Norway, Asset Summary Cash Flows, Thousand USD, 2003-2027 20
Table 12: Grane, Norway, Front End Load, Thousand USD, 2003-2027 21
Table 13: Grane, Norway, Tax Liability Estimations, Thousands USD, 2003-2027 22
Table 11: Grane, Norway, Asset Summary Cash Flows, Thousand USD, 2003-2027 20
Table 12: Grane, Norway, Front End Load, Thousand USD, 2003-2027 21
Table 13: Grane, Norway, Tax Liability Estimations, Thousands USD, 2003-2027 22
1.2 List of Figures
Figure 1: Grane, Norway, Location, 2010 6
Figure 2: Grane, Norway, Geology and Formations, Seismic Section, 2010 7
Figure 3: Grane, Norway, Equity Partners and Their Equity Stakes, 2010 8
Figure 4: Grane, Norway, Process Flow Diagram, 2010 10
Figure 5: Grane, Norway, Historic Production and Forecast, 2003-2027 12
Figure 6: Grane, Norway, Gross Revenue Versus Tax Cash Flow Analysis, 2000-2027 15
Figure 7: Grane, Norway, Remaining PV Sensitivity Analysis Over Discount Rate Vs. Commodity Price Change, in Billion Dollars, 2010 16
Figure 8: Grane, Norway, Remaining PV Sensitivity Analysis over Change in Production Vs. Commodity Price Change, in Billion Dollars, 2010 17
Figure 9: Grane, Norway, Remaining PV Sensitivity Analysis Over Income Tax Change Vs. Production Rate, in Billion Dollars, 2010 18
Figure 3: Grane, Norway, Equity Partners and Their Equity Stakes, 2010 8
Figure 4: Grane, Norway, Process Flow Diagram, 2010 10
Figure 5: Grane, Norway, Historic Production and Forecast, 2003-2027 12
Figure 6: Grane, Norway, Gross Revenue Versus Tax Cash Flow Analysis, 2000-2027 15
Figure 7: Grane, Norway, Remaining PV Sensitivity Analysis Over Discount Rate Vs. Commodity Price Change, in Billion Dollars, 2010 16
Figure 8: Grane, Norway, Remaining PV Sensitivity Analysis over Change in Production Vs. Commodity Price Change, in Billion Dollars, 2010 17
Figure 9: Grane, Norway, Remaining PV Sensitivity Analysis Over Income Tax Change Vs. Production Rate, in Billion Dollars, 2010 18
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