Recent Study: Sigyn Field, Norway, Commercial Asset Valuation and Forecast to 2016

Aug. 26, 2010 - PRLog -- The Sigyn field is located in the Sleipner area in the block 16/7 in the middle of the Norwegian North Sea. The field is located 12km south-east of the Sleipner East. The sea depth is around 70m. The original area of the Sigyn field was around 543.17 sq km in 1982, while the current area is around 40 sq km. Currently, it possesses the area of about 39.94 sq km. The field comprises the Sigyn Vest which contains natural gas and condensate and Sigyn Ost which contains light oil. ExxonMobil Exploration and Production Norway AS is the operator of the field.
ExxonMobil Exploration and Production Norway AS holds 40.00% equity stake in the field. The other equity partner in the field is Statoil Petroleum AS.

The Sigyn field produces natural gas, NGL and condensate. The field produces the light condensate of Brent Blend quality with 55.8th API and sulfur content of 0.02% (by mass).

Sigyn field started production in 2003 and has produced around 58.81 billion cubic feet of natural gas, 7.25 million barrels of NGL and 9.92 million barrels of condensate in the last three years. The current production (2010) of the field is estimated to be approximately 12.71 billion cubic feet of natural gas and 1.14 million barrels of NGL.

The production life of the Sigyn field is expected to be around 13-14 years with complete abandonment during 2016. The field is expected to generate $917.77m in revenue (undiscounted) during its remaining life (starting January 1, 2010) and is expected to yield an IRR of around 22.83%.

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

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Partial Table of Contents:

1 Table of contents 2
1.1 List of Tables 3
1.2 List of Figures 4
2 Sigyn Field, Norway, Introduction 5
3 Sigyn Field, Norway, Geology and Formation 6
4 Sigyn Field, Norway, Equity Partners 7
5 Sigyn Field, Norway, Natural Gas, NGL and Condensate Reserves 8
6 Sigyn Field, Norway, Key Fiscal System 8
6.1 Key Fiscal Terms 8
6.1.1 Contract Type 8
6.1.2 Royalty 8
6.1.3 Bonuses 8
6.1.4 Rentals 8
6.1.5 Fees 9
6.1.6 Taxation 9
6.1.7 Petroleum Revenue Tax (PRT) 9
6.1.8 Deductions 9
6.1.9 Capital Allowance 9
6.1.10 Ring Fence 9
7 Sigyn Field, Norway, Infrastructure 10
7.1 Upstream Infrastructure 10
7.1.1 Wells 10
7.2 Midstream Infrastructure 10
7.2.1 Flowlines 10
8 Sigyn Field, Norway, Development Plan, Investment and Expenditure 12
8.1 Phase One (1982-1983) 12
8.2 Phase Two (1997-1998) 12
8.3 Phase Three (2001-2002) 12
8.4 Phase Four (2002-2003) 12
9 Sigyn Field, Norway, Natural Gas Production, NGL Production and Condensate Production 12
10 Sigyn Field, Norway, Field Economics 16
10.1 Sigyn Field, Norway, Economic Assumptions 16
10.1.1 Forecast Commodity Prices 16
10.1.2 Inflation 16
10.1.3 Discount Rate and Representation of Cash Flows 16
10.1.4 Sensitivity 16
10.1.5 Access to the Economic Model 16
10.2 Sigyn Field, Norway, Cash Flow Analysis 16
10.3 Sigyn Field, Norway, Remaining PV Sensitivity Analysis 17
10.3.1 Remaining NPV Sensitivity to Discount Rates 17
10.3.2 Remaining NPV Sensitivity to Change in Commodity Prices and Production 18
10.3.3 Remaining NPV Sensitivity to Income Tax and Production Rate 19
11 Sigyn Field, Norway, Summary Cash Flows 20
11.1 Sigyn Field, Norway, Front End Load Due To Fiscal Policy 22
11.2 Sigyn Field, Norway, Tax Liability 23
12 Appendix 25
12.1 Methodology 25
12.2 Coverage 25
12.3 Secondary Research 25
12.4 Primary Research 25
12.5 E&P Forecasts 26
12.6 Capital Costs 26
12.7 Exploration and Appraisal (E&A) Costs 26
12.8 Operating Costs 26
12.9 Expert Panel Validation 27
12.10 About GlobalData
12.11 Contact Us
12.12 Disclaimer

1.1 List of Tables

Table 1: Sigyn Field, Norway, Key Asset Data, 2010 5
Table 2: Sigyn Field, Norway, Natural Gas Production, 2003-2014 11

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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.