Risk and Relative Importance of Undiscovered Hydrocarbon Resources on the Norwegian Continental Shelf

Estimates have been made by the Norwegian Petroleum Directorate (NPD) of different categories contributing to potential oil and gas resources for the Norwegian Continental Shelf. The estimates for each sub-area: North Sea, Norwegian Sea, Barents Sea, are evaluated using probabilistic methods to determine both the most likely values of potential reserves (or resources) in a given category, and also to assess the range of uncertainty of each category, i.e. the volatility of each estimate.