"Skirne Field, Norway, Commercial Asset Valuation and Forecast to 2012" Published

Aug. 27, 2010 - PRLog -- The Skirne field is an offshore gas and condensate field situated in Production License 102, block 25/5. It lies 24km east of the Heimdal gas field in the Norwegian sector of the North Sea. It is located around 140kmnorth-west of Stavanger, Norway. The water depth of the field is around 120m (390 feet) and the Skirne deposit is at the depth of around 2,370m. Total E&P Norge AS is the operator of the field. It is a part of the multinational French Oil and Gas Company named Total. The company has emerged as a major player on the Norwegian Continental Shelf.

Total E&P Norge AS holds the major equity stake in the field with 40% equity share. The other equity partners in the field are: Petoro AS, Centrica Resources Norge AS and Statoil Petroleum AS. Centrica Resources Norge AS acquired a 20% interest in the Skirne field from Marathon Petroleum Norge AS in 2008.

The Skirne field includes the Byggve deposit. The production at the Skirne field (including Byggve deposit) started in March 2004. The Skirne field produces natural gas and condensate. The field produces condensate with gravity of 52.9degAPI.

The field started production from the wildcat wellbore 25/5-3, which is still producing. The field has produced around 231.11 billion cubic feet of gas and 8.8 million barrels of condensate until 2009. The current production (2010) is estimated to be 33.60 billion cubic feet of natural gas and 1.1 million barrels of condensate.

The life of the field is expected to be around nine years with complete abandonment by the end of 2012. The field is expected to generate $703m in revenues (undiscounted) during its remaining life (starting January 1, 2010) and is expected to yield an Internal Rate of Return (IRR) of around 21.35%.

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 3
2 Skirne Field, Norway, Introduction 4
3 Skirne Field, Norway, Geology and Formation 6
4 Skirne Field, Norway, Equity Partners 7
5 Skirne Field, Norway, Natural Gas and Condensate Reserves 8
6 Skirne Field,  Norway, Key Fiscal Terms 8
7 Skirne Field, Norway, Infrastructure 9
8 Skirne Field, Norway, Development Plan, Investment and Expenditure 13
9 Skirne Field, Norway, Natural Gas and Condensate Production 14
10 Skirne Field, Norway, Field Economics 17
11. Skirne Field, Cash Flow Analysis 18
12. Skirne Field, Norway, Summary Cash Flows 22
13. Appendix 25
13.1 Methodology 25
13.2 Coverage 25
13.3 Secondary Research 25
13.4 Primary Research 25
13.5 E&P Forecasts 26
13.6 Capital Costs 26
13.7 Exploration and Appraisal (E&A) Costs 26
13.8 Operating Costs 26
13.9 Expert Panel Validation 27
13.10 About GlobalData
13.11 Contact Us
13.12 Disclaimer

1.1 List of Tables

Table 1: Skirne Field, Norway, Key Asset Data, 2010 4
Table 2: Skirne Field, Norway, Offshore, Applicable Fees, 2010 8
Table 3: Skirne Field, Norway, Offshore, Project Work Characteristics, 2010 13
Table 4: Skirne Field, Norway, Natural Gas Historic and Forecast Production in Million Cubic Feet, 2004-2012 15
Table 5: Skirne Field, Norway, Condensate Historic and Forecast Production in Thousand Barrels, 2004-2012 16
Table 6: Skirne Field, Norway, Commodity Price Assumptions, 2010-2017 17
Table 7: Skirne Field, Norway, Project Analysis Metrics, 2010 18
Table 8: Skirne  Field, Norway, Remaining PV Sensitivity Analysis Over Discount Rate Vs. Commodity Price Change,  in Million Dollars 19
Table 9:  Skirne  Field, Norway, Remaining PV Sensitivity Analysis at 10% Discount Rate Over Change in Production Rate Vs Commodity Price Change, in Million Dollars 20
Table 10:   Skirne  Field, Norway, Remaining PV Sensitivity Analysis at 10% Discount Rate over Special Petroleum Tax Change Vs Production Rate, in Million Dollars 21
Table 11: Skirne Field, Norway, Asset Summary Cash Flows, Thousand $, 2004-2012 22
Table 12: Skirne Field, Norway, Front End Load, Thousand $, 2004-2012 23
Table 13: Skirne Field, Norway, Tax Liability Estimations, Thousand $, 2004-2012 24

1.2 List of Figures

Full Table of Contents is available at:
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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.