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November 25, 2021updated 27 Apr 2022 11:47am

Solveig Conventional Oil Field, Norway

By Carmen

Solveig is a producing conventional oil field located in shallow water in Norway and is operated by Lundin Energy Norway. The field is located in block 16/4P (PL 359), with water depth of 330 feet.

An expansion project is associated with the Solveig, namely Solveig Phase 2. This project is currently in the feasibility stage, expected to start in 2024.

Field participation details

The field is owned by OMV, BASF, LetterOne Holdings and Lundin Energy.


Production from Solveig

The Solveig conventional oil field recovered 0.88% of its total recoverable reserves, with peak production expected in 2022. The peak production was approximately 24.57 thousand bpd of crude oil and condensate and 28 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2049.


Remaining recoverable reserves

The field is expected to recover 61.7 Mmboe, comprised of 52.79 Mmbbl of crude oil & condensate and 53.43 bcf of natural gas reserves. Solveig conventional oil field reserves accounts 0.01% of total remaining reserves of producing conventional oil fields globally.


About Lundin Energy Norway

Lundin Energy Norway AS is an exploration company, and has developed further into an experienced developer and operating operator. The company is headquartered in Oslo, Norway.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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