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Fiscal Comparison/Exploration Attractiveness
5.3 Netherlands
5.3.1 Netherlands - current resource base and remaining prospectivity
The Netherlands is the second largest gas producer in Europe. It is a mature hydrocarbon province, with onshore
production starting in the 1950s and offshore production in the 1960s. Gas production is dominated by the large onshore
Groningen field, which is the largest gas field in Europe. It is estimated to have recoverable reserves of 104.5 tcf, with
around 34.6 tcf remaining. Groningen acts as the country's main swing producer, both on a daily and seasonal basis.
This allows other Dutch gas fields to produce with very low swing requirement. The field is being conserved as a
strategic reserve in order to provide this balancing capacity for as long as possible.
The Dutch remaining resource base is estimated to be 9bnboe of which Yet to Find reserves account for around
1.1bnboe. For onstream gas, around 84% is allocated to the Groningen field.
There is limited potential for further large discoveries in the basin, and a number of the original players have downscaled
their interests. However, significant total yet-to-find volumes remain, and these provide the opportunity to create value
going forward. Wood Mackenzie forecast that activity will remain relatively high, driven by the entry of numerous smaller
companies which are more willing to seek and develop smaller fields. Yet-to-find reserves do no include unconventional
(shale gas) resources, which are believed to be present onshore.
The expected average discovery size on the Dutch shelf is 15 mmboe, likely gas, with a high expected success rate of
38%.
Netherlands remaining resource base @ 1/1/2012 (mmboe)
Probable
1%
Under
Development
1%
Netherlands Gas (8,528 mmboe)
Technical
7%
Source Wood M ackenzie
YTF
11%
Onstream
80%
Netherlands Liquids (445 mmboe)
YTF
22%
Technical
31%
Source Wood M ackenzie
Probable
2%
Under
Development
4%
Onstream
41%
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