Statoil is developing the new discoveries in the North Sea – Tu.no

Statoil delivered today a plan for development and operation (PDO) for Byrding discovery (formerly Astero) in the North Sea. Estimated investments of nearly one billion and estimated recoverable volumes are approximately 11 million barrels of oil equivalent, according to the oil company.

It’s a small discoveries linked to existing subsea equipment and platforms on the Troll field.

cut 2.5 billion

the total estimated investment for development is reduced from about 3.5 billion to nearly one billion.

Portfolio Director Terese Kvinge Statoil is satisfied with this.

– training had been going in with a separate template to develop the discovery, she says to TU.

Now utilizes the a vacant slot in the template on the Fram H-Nord located on the seabed . The most complex of the project is to drill the 7,300-meter well with two branches from there until found.

– The project team has worked very well with the concept, from the well via subsea facility and up Troll C, she said.

Illustration of Byrding development in the North Sea. Photo: Statoil

They have also managed to avoid a costly upgrade and modification of the plant on Troll C in order to connect up found.

Profitable today

– we are in the midst of a cultural change in the industry, we see that even more than previously unable to find simple, cost-effective solutions, says Kvinge.

project is profitable also at current prices.

– We have found an optimal solution, where we get to a profitable project. Here we must think ahead if we are to achieve profitability in the smaller discoveries, she said.

Holder lives in major platforms

Byrding plan is the third PDO Statoil supplies this year. Previously, they delivered Oseberg west flank and Utgard. Previous fast-track PDO shipped was Gullfaks Rimfaks Valley last year.

Analyst Espen Erling at Rystad Energy believes that Statoil sanctions none so far in 2015 shows that the company is aiming to further develop and maintain production from old producing fields.

– the fact that small fields tied back to older field centers is important for the major platforms will continue to be commercial. Meanwhile it shows that there is potential for small developments even when oil prices are low, says Erlingsen.

Small but important

– Byrding is a very welcome development in the North Sea, says petroleum and Energy Tord Lien (FRP) in a message.

the development will leverage existing platforms and facilities to the seabed. Lien argues that this leads to a rapid and cost-effective development with good profitability.

– To realize the potential of the Norwegian continental shelf, it is important that young ones who Byrding being built, says Lien.

He notes that efforts to reduce development costs are now doing more projects profitable.

– Overall, the utilization of the smaller findings provide significant investment, large value and more profitable jobs, he said.

starting in 2017

Planned production start in Q3 2017. Thus, the project will provide revenue in the same year as the largest investments done.

Byrding will plan to produce in 8-10 years, with an expected daily production of nearly 8,000 barrels of oil equivalent per day, when production peaks.

field has, according to NPD, named after a term for ships with high sides (as opposed to longitudinal) intended for traffic near the coast, the Saga Age. The vessel reminiscent Knarr, but is blunter. Both types can both praise and sailed.

The licensees in Byrding operator Statoil Petroleum AS (45 per cent), Wintershall Norway AS (25 percent), Engie E & amp; P Norway AS (15 percent) and Idemitsu Petroleum Norway AS (15 percent).