Valemon field, which was found in 1985, is one of Statoil’s projects on the Norwegian continental shelf. Statoil expects to take out gas and condensate equivalent 192 million boe. Saturday morning started production.
Production has started on Valemon
According to the plan for development and operation (PDO) was submitted to the Norwegian authorities in May 2010, the total income from the field be around 84 billion. Most of the revenue is expected to come from 2015 to 2022, 2018 and 2019 which peak year.
But how big revenue actually gets depends on future sales prices for oil and gas.
Marginally project
The last three years, oil prices have remained at $ 100 per barrel or more. But only since the summer, the price of a barrel of North Sea oil has been halved, and on Friday it lay just above $ 56 per barrel.
The weather prevented the Christmas startup Valemon
– It is clear that in relation to the short term, the oil price which it is said Arne Sigve Nylund, executive vice president for Development and Production Norway to Aftenbladet.
– Oil prices go up and down, so we are considering this in a long term perspective. It is not to hide the fact that this is a marginal project, but we have managed to implement it on schedule and within cost limits that were set. So we believe that in the long term is a profitable project, he adds.
Must Cut Costs
The total investments in field development project will be at approximately 22.6 billion. This is also included drilling and rig hire 10 production wells. This is work that should happen after the start of production.
According Nylund constitute drilling of these wells 10 about 50 percent of total investment. Therefore Statoil now fit even better on how much money they spend.
These projects are not profitable at current oil prices
– Now we need to think about the cost future. Therefore it is now working to minimize the cost of drilling of these wells, he says to Aftonbladet.
Field could in theory have a life until 2040, but this depends on whether it is being made new discoveries and their size. Expected oil and gas prices also play an important role.
In April this year the company found around 48.3 barrels of oil and gas in two wells about 10 kilometers north of Valemon installation. But according to calculations from Rystad Energy, it is necessary with an oil price of between 70 and 75 dollars per barrel for a development project will pay off.
Delayed start
The plan was Valemon- production really have started Christmas Eve, but bad weather before Christmas did that start was delayed.
But on Saturday morning at 8:36 could finally taps turned on.
Statoil hopes to open this platform on Christmas Eve
– Both providers and those who work in our own project has done a great job during the Christmas and New Year to get this to brag Nylund.
The field is located in the northern part of the North Sea, between Kvitebjørn and Gullfaks South. It is among the group’s development projects on the Norwegian shelf.
Nylund says Valemon is important for Statoil because this is the second in a series of several new platforms we start up on the Norwegian shelf.
Investing in Norway
– Last year started production on the Gudrun field and forwards coming Johan Sverdrup, Gina Krog, Aasta Hansteen and Johan Castberg. This shows the importance the Norwegian shelf for us to come, and it shows that we focus on the Norwegian shelf.
In addition, he believes it is important to emphasize that this is a field that is found too long ago, and that the company has matured using existing infrastructure.
Oil Fall provides enormous milliardtap for Norway
condensate from Valemon will be sent to Kvitebjørn for processing and further transport to Mongstad, while gas goes to Heimdal for processing and further transport to market.
– Through Valemon project we have upgraded facility at Heimdal and it will increase the life of this platform. This had not been possible previously. Here we see things in a large context, not least when it comes to value creation. It’s nice for the organization to be delivering on such important things, says Nylund.
Remote
Valemon platform is Statoil’s first platform remotely controlled from land, from Sandsli outside Bergen. It is called a normally unmanned platform when drilling on the field is closed in 2017.
The lock has loosened – oil prices in freefall
The main deck to Valemonplattformen is built in South Korea. The ship was in the field in July. Valemon covered is the first turnkey contract by Statoil given to a shipyard in South Korea.
The jacket and the living quarters are built in the Netherlands, while 80 of the 120 major equipment packages are from Norwegian suppliers.
No comments:
Post a Comment