Statoil’s north ocean success provides expect world’s depleted fields

Statoil’s north ocean success provides expect world’s depleted fields Veteran operators Statoil and OMV

Developers and investors holding old, "depleted" gas and oil fields, be aware — you may be located on much more in reserves than you believe.

This is the message now from the world-first breakthrough in offshore production, arriving the mature climes of Norway’s North Ocean.

Veteran operators Statoil and OMV stated they’ve installed the earth’s first subsea wet gas compressor a device which has single-handedly brought to some massive leap in recoverable reserves in the target Gullfaks gas field.

Compressors really are a common device at North Ocean gas fields — used to maintain production even while pressure inside a reservoir formation falls because of pumping with time. Related: The Finish From The European Refining Boom Or Simply A Pause?

Until recently, compressors happen to be mounted above-water, on the top of production platforms. But Statoil’s new tech changes that, by putting the compression equipment on the seafloor.

Which alternation in location makes a significant difference — really creating new reserves.

The items is, compressors work better when located nearer to the wellhead. And also the seafloor is really as near to the wellhead because it will get — making the subsea compressor probably the most enhanced position for this kind of technology. Related: Day’s Reckoning For U.S. Shale Will Need To Wait

The outcome on production and reserves is big with Statoil estimating the Gullfaks subsea compression system will extract 22 million barrels of oil equivalent (boe) far above what previous equipment might have accomplished.

Essentially, this breakthrough has added new reserves from nothing.

This is among the greatest developments in decades for that offshore sector, with Statoil getting been focusing on we’ve got the technology since 2005. Related: Oil Glut Seems To Become Getting Worse, Not Better

Which leading-edge technique is now being deployed over the North Ocean having a $2.3 billion installation now on-going at Statoil’s Asgard complex — likely to increase production with a stunning 306 million boe within the field’s existence.

This is actually the type of stealth engineering shift that turns fields from marginal to marvelous. Watch out for big value being produced because this ripples with the E&P sector.

Here’s to some breakthrough on breakthroughs,

Dave Forest

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The Mines of the Many | Critical Role RPG Episode 98


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