Since the plan for development and operation phase 1 has span the resource estimate for Johan Sverdrup full fields improved from 1.7 to 3.0 to 1.9 to 3.0 billion boe, Statoil states in a message.
As points out that it is now less uncertainty about the resource estimate for the field.
“the increase in capacity along with improvement in the reserve estimates and investment costs have helped to reduce the zero price / breakeven for the full field development of the Johan Sverdrup to be below 30 US dollars per barrel, “writes the group.
– We will work with more detail improvements and Statoil and its partners decided to spend more time until a decision on continuation and final investment decision for future construction phase, says Executive Vice president, Technology, projects and drilling, Margareth Øvrum in a statement.
She points out that they also want to maintain production startup for full fields and the establishment of a zone solution for land-based power by 2022.
Production capacity
Statoil points out that it is working to remove bottlenecks in the plant to expand production capacity on the Johan Sverdrup field center.
“Efforts to optimize the processing of phase 1 has been successful . Production capacity for Phase 1 is now estimated at 440,000 barrels per day. In the plan for development and operation was originally production capacity for Phase 1 estimated at between 315-380 000 barrels per day, “the statement said.
The partnership in Johan Sverdrup is also agreed to expand manufacturing capacity Johan Sverdrup with an additional processing platform at the field center.
“This increases the expected full production capacity for Johan Sverdrup full field to 660,000 barrels per day. In the plan for development and operation was in full production by Johan Sverdrup estimated at 550.000 to 650.000 barrels per day. Final concept for future phases determined by a decision on continuation of the project, “writes the group.
Investment costs
According to Statoil, the investment costs for the first phase is now estimated at 99 billion (Investment estimates in nominal terms based on project exchange rate). It corresponds to a reduction of 24 billion since the plan for development and operation. Current zero price / breakeven is less than 25 US dollars per barrel for phase 1.
– We can now see the results of good cooperation between Statoil, partners and suppliers. we reduce investment costs significantly and we increase capacity, resource estimate and the value of the field. Johan Sverdrup is a world class project and will create substantial value for owners and society for generations, says Statoil chief Eldar Sætre, in a comment.
Read the full release here.
No comments:
Post a Comment