Repsol Norge and its partners have started production from the Yme field offshore Norway, 20 years after it ceased production due to low oil prices at the time.
Located in Block 9/2 and 9/5 in the Egersund Basin, approximately 130km from the Norwegian coastline, the field is expected to have peak production capacity of around 56,000 barrels of oil equivalent per day (boepd).
The field is estimated to have recoverable reserves of approximately 10 million standard cubic meters of oil or 63 million barrels of oil equivalent.
Discovered in 1987, the Yme field started production in 1996. It was then operated by Statoil.
However, production from the field was abandoned in 2001 due to high costs and low oil prices.
In 2007, the plan for development and operation (PDO) for the Yme redevelopment project was approved.
A decision was made in 2013 on the removal of the mobile offshore production unit installed in 2011 from the field owing to the platform’s structural deficiencies and the vast amount of incomplete work.
In 2006, the operatorship of the field was taken over by Talisman Energy, which was then acquired by Repsol in 2015.
An amended PDO by Repsol for the project was approved in March 2018. It involves a leased jack-up rig equipped with drilling and production facilities and a subsea template on the Beta structure.
The plan also involves the drilling of seven wells and the reuse of the nine wells that were pre-drilled in 2009-2010.
Repsol executive managing director for exploration and production Tomás García Blanco said: “Yme will provide a significant contribution to Repsol’s oil and gas production.”
Repsol Norge operates the field with 55% stake. Other partners include OKEA (15%), Lotos Exploration and Production Norge (20%), and KUFPEC Norway (10%).
OKEA CEO Svein J Liknes said: “First oil at Yme is a key milestone for OKEA. With production start in highly favourable market conditions, Yme will add significant positive cash flows going forward and further strengthen OKEA’s positioning for the next growth phase.”
Maersk Drilling’s Maersk Inspirer jack-up rig has been leased for the Yme field.