Statoil has announced that its development and operation plan has been approved by authorities for the Utgard and Byrding fields in the North Sea.
Statoil is the operator of both the fields, owning a 38.44% interest in Utgard and 70% in Byrding.
The company has estimated Nkr3.5bn ($0.41bn) as capital expenditures for Utgard, while Byrding requires an investment of Nkr1bn ($0.12bn).
Statoil Project Development senior vice-president Torger Rød said: “I’m pleased that the plan for development and operation of Utgard and Byrding now has been approved. These projects will give valuable new volumes to the Sleipner and Troll field.
“Efficient utilisation of existing infrastructure contributes to reducing the costs and make these developments profitable.”
Located on the Norwegian and UK Continental Shelf, Utgard is a gas and condensate field estimated to host a recoverable volume of nearly 56 million barrels of oil equivalent.
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Discovered in 1982, Utgard is situated in the UK-Norway median line, although the majority of reserves fall on the Norwegian side.
The company has planned to develop two wells in a standard subsea concept each drilling on the opposite sides of the median line. Installations and infrastructure will be developed in the Norwegian half.
Byrding oil and gas field is north of the Troll field. Statoil estimates that about 11 million barrels of oil equivalent can be recovered from here.
The Byrding development will comprise a duo-lateral well that will be drilled from the existing Fram H-Nord subsea template that oil and gas will get transported to the Troll C through.
The company intends to drill the duo-lateral well approximately 7km, with the first 1km to 2km shared by the two laterals.
Image: Statoil receives approval to develop two offshore oil fields. Photo: courtesy of Statoil.