Draugen is a producing conventional oil field located in shallow water in Norway and is operated by Okea. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, the field is located in block 6407/9P (PL 093) and 6407/12P (PL 176), with water depth of 971 feet. Buy the profile here.

Field participation details

The field is owned by M Vest Energy, Okea and Petoro.

Production from Draugen

The Draugen conventional oil field recovered 93.87% of its total recoverable reserves, with peak production in 2001. The peak production was approximately 204.23 thousand bpd of crude oil and condensate, 26.00 Mmcfd of natural gas and 12.63 thousand bpd of natural gas liquids. Based on economic assumptions, production will continue until the field reaches its economic limit in 2033.

Remaining recoverable reserves

The field is expected to recover 62.13 Mmboe, comprised of 62.13 Mmbbl of crude oil & condensate. Draugen conventional oil field reserves accounts 0.01% of total remaining reserves of producing conventional oil fields globally.

About Okea

OKEA AS (Okea) an explorer and developer of oil and gas. The company provides services such as oil and gas exploration, production, and development of oil and gas producing properties across Norway. It also develops discovered oil fields on the Norwegian continental shelf through applying affordable, modern, and practical solutions, among others. Okea has partnered with Seacrest Capital Group to develop a portfolio of oil production assets. Its assets production ownership interest comprises of Draugen, Gjoa, Ivar Aasen, and Yme. The company has a 44.56 per cent ownership interest in the Draugen field. It has its operation across Norway. Okea is headquartered in Trondheim, Norway.

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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.

This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.