The physical asset accounts for petroleum resources on the Norwegian continental shelf over the period 2017-2022 are compiled according to SEEA-CF standard, in terms of the suggested form and classifications, allowing a clearer and more meaningful international comparison.
The physical asset accounts for Norwegian petroleum resources are compiled, with clear distinction being made across various types of petroleum resources (i.e., oil, gas, NGL, and condensate), as well as different classes (i.e., Classes A, B, C, and potential deposits that is not included in SEEA-CF standard). Therefore, not only totals including all classes of individual types of resources, but also estimates by individual type and class are calculated and reported in the compiled physical asset accounts.
The compiled physical assets accounts are prerequisite for further compiling the corresponding monetary assets accounts for petroleum resources in Norway, both expected to be included in the Norwegian Environmental Accounts (NEA). In addition, the monetary values calculated from the asset accounts can possibly be incorporated in the balance sheet accounts in the Norwegian National Accounts (NNA), as suggested by the recent UN Task Team Guidance Note for SNA updating.