Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

SSP Offshore Inc V.SSZ



TSXV:SSZ - Post by User

Post by unevenon Dec 30, 2011 11:33am
309 Views
Post# 19359699

Norway

Norway

STAVANGER, Norway -- Statoil is considering a floating production unit to develop its Skrugard oil and gas discovery in the Barents Sea.

A feasibility study recommended a facility with oil storage and offshore loading capability, and with an oil production capacity of 95,000 b/d. Current thinking favors 14 subsea oil production wells with water and gas injectors providing pressure support.

Statoil only discovered the field last April 2011. It estimates recoverable volumes at around 250 MMboe, with strong upside potential.

There are other prospects nearby which could also be included in a development.

Erik Strand Tellefsen, VP for operations on Skrugard, said: “We are drawing upon our own and our partners’ experience and the lessons learned on Goliat [also in the Barents Sea] and on our fasttrack developments. Skrugard will mainly be based on familiar technology, while making allowances for harsh weather regions. The project team will be located in Harstad, apart from the construction site section, which has been placed in Oslo.”

Data is currently being compiled on local weather, waves, and soil mechanics.

Work will continue in parallel with the semisub Aker Barents’ exploration well on the Havis prospect 5 km (3.1 mi) away in the same license. The rig will then drill an appraisal well on Skrugard, and based on results from these two wells, further exploration drilling could follow.

“A possible solution is a field center with processing and transport capacity, with the flexibility to phase in the prospects in the area. This is in line with Statoil’s ambition to develop the Barents Sea as a core area on the NCS,” Tellefsen said.

<< Previous
Bullboard Posts
Next >>