statoil

Statoil, with its partners, has submitted a plan to the country’s petroleum and energy ministry for the development and operation (PDO) of the Delta 2 field in the North Sea, at an estimated cost of NOL7.4bn ($1.2bn).

Delta 2 field will be developed as part of Statoil’s fast track portfolio, which aims at recovering resources by utilising the existing infrastructure.

The recoverable reserves at Delta 2 are estimated to be about 77 million barrels of oil equivalent, while peak production will amount to 18,000boe/d.

The field is located in the North Sea by Oseberg at a depth of about 100 metres and 3,100 metres below seabed.

Statoil Norwegian continental shelf field development senior vice president Ivar Aasheim said Delta 2 is an important step for the company’s fast-track development strategy.

"The fast-track projects will considerably boost Statoil’s equity production and will produce 100,000 barrels of oil equivalent daily (boe/d) by the end of 2014," Aasheim added.

"The field is located in the North Sea by Oseberg at a depth of about 100 metres and 3,100 metres below seabed."

"Delta 2 is the 11th fast-track development for which Statoil is making an investment decision. Without the fast-track concept many of the discoveries currently being developed would not have been profitable."

Aasheim also said that Delta 2 is being developed using two seabed templates, and the wellstream will be piped to the Oseberg Field Centre.

The oil field, which has an estimated lifetime of 20 years, has been planned to come on stream by the end of 2014.

Statoil is the operator with 49.3% interest, while ConocoPhillips, Petoro and Total hold 2.4%, 33.6% and 14.7%, respectively.


Image: Statoil Norwegian continental shelf field development senior vice president Ivar Aasheim (right) hands over the Delta 2 plan to Norwegian petroleum and energy minister Ola Borten Moe. Photo courtesy of Statoil.

Energy