Statoil, Petoro Invest in Gullfaks Subsea Templates and Wells (Norway)

Statoil, Petoro to Invest in Gullfaks Subsea Templates (Norway)

Statoil and its partner Petoro have decided to further develop Gullfaks South in the North Sea by investing NOK 8.5 billion in two new subsea templates and six extra wells. This will boost recovery by 65 million barrels of oil equivalent.

Increasing recovery from Gullfaks South will be implemented as part of Statoil’s fast-track developments.

“By using the fast-track concept, with standardised solutions and consistent teams in one project, we will improve recovery in an effective manner,” says Halfdan Knudsen, vice president for fast-track projects on the Norwegian continental shelf (NCS).

Production in parts of Gullfaks South was shut down in 2008 to maintain an acceptable pressure level in the reservoir for future drilling operations.

Existing wells are being reopened in the course of 2012. And new wells will also be drilled from existing seabed templates on Gullfaks South.

Recovery will be increased further with the fast-track concept and production start-up is planned from 2014.

“We’re now making a substantial investment in a mature field,” says Jannicke Nilsen, senior vice president for the operations North Sea west cluster.

“This is a major commitment to increasing recovery and it is in line with Statoil’s continuous focus on increased recovery in existing fields on the NCS.”

This will be the second fast-track development to be tied back to Gullfaks for processing and it exploits spare capacity on one of the big producers on the NCS (Visund South was resolved in 2011).

Two available well slots will provide flexibility and further reserves could be realised. The project will help to utilise spare processing capacity and extend the lifetime of Gullfaks A beyond 2030.

Press Release, August 22, 2012

Share this article

Follow Subsea World News

Events>

<< Mar 2017 >>
MTWTFSS
27 28 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

NGV Global 2017

The NGV GLOBAL 2017 Conference will bring together leaders in the world natural gas for vehicles to discuss current trends, development…

read more >

40th Annual Offshore Pipeline Technology Conference 2017

The conference will cover areas like discuss on pipeline integrity management and life extension strategies for better operational outcomes…

read more >

SNS2017 – The Southern North Sea Conference & Exhibition

EEEGR’s flagship Southern North Sea conference is taking place over two days at the Norfolk Showground Arena in Norwich…

read more >

MEOS 2017

The conference typically features over 300 high quality technical presentations, a series of panel sessions led by presidents, vice presidents…

read more >