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Statoil spent a billion on Troll field

The troll B platformThe troll B platform.Photo: Morten Hval / NTB / Scanpix

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Oil Field Byrding close by the Troll field in the North Sea will be developed for around 1 billion NOK. Estimated recoverable volumes in the field is just over 11 million barrels of oil equivalent.

– This is again another example of how we take advantage of existing infrastructure to realize new discoveries, says Torger Red, director of project development in Statoil.

Oil and gas from the well to be sent to the Troll C platform. Further oil and gas will run in existing pipelines on, respectively, Mongstad and Kollsnes.

Byrding is scheduled to start production in the third quarter of 2017 and will produce between eight and ten years. Thus, the project will provide revenue in the same year as the largest investments made.

It is expected to have a daily production close to 8,000 barrels of oil equivalent, according to Statoil. Estimated recoverable reservoirs are approximately 11 million barrels of oil equivalent. By comparison, it will produce around two million barrels daily on the Norwegian shelf.

Minister of Petroleum and Energy Tord Lien (Frp) is welcoming the development plans.
– To realize the potential of the Norwegian continental shelf, it is important to have some redevelopment on Byrding, says Lien.

Investment estimates for the field was originally at around 3.5 billion NOK.
Statoil is operator of the field with a stake of 45 percent. Wintershall has a 25 percent share, while GDF Suez and Idemitsu both have 15 percent.

 

Source: NTB scanpix / Norway Today

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