Asset Report
Verdande Area
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The Verdande Area is comprised of the Verdande (previously Cape Vulture) and Alve Nord Ost oil and gas discoveries. Production started in December 2025, almost exactly three years to the day since the development plan was submitted in 2022. The project qualified for Norway's temporary tax terms which were on offer to all projects sanctioned between 2020 and 2022. It is the sixth subsea tie-back to the Norne FPSO.
Table of contents
- Summary
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Key Issues
- Exploration opportunities add upside potential
- Norne Area life extension
- Corporate activity
- Future drilling
- Historical drilling
- Emissions
- Oil
- Gas
- Capital costs
- Decommissioning costs
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Operating costs
- Transportation costs
- Emissions taxes
- Cash Flow
- 2 more item(s)...
Tables and charts
This report includes the following images and tables:
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Reserves (2P) at 01/01/2026Production (2026-2035)
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Verdande Area production profilePipeline summaryCapital Costs 2022 to 2025 (NKr million)Capital Costs 2037 to 2039 (NKr million)Cash Flow (US$)PV Table (US$)Summary Table (US$)Split of RevenuesCumulative Net Cash Flow - Undiscounted
- 9 more item(s)...
What's included
This report contains:
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