STAVANGER — Norwegian government bodies have approved the program for Development and Operation (PDO) from the Trestakk discovery around the Halten Bank within the Norwegian Ocean. Investments are calculated at NOK 5.5 billion, nearly half from the original estimate.
Trestakk is discovered in 1986, and expected recoverable volumes are 76 MMboe, mainly oil. Tied in to the Åsgard A production vessel, Trestakk is anticipated in the future on stream in 2019.
With respect to the licence proprietors, Statoil posted the PDO towards the minister of oil and, on November. 1, 2016. The expense of developing the Trestakk discovery happen to be reduced by nearly 50% since project start-up, based on Statoil.
“This is a great one of the items we could achieve together with our license partners and suppliers by innovative thinking, and spending sufficient time on maturing the very best concept choice. Trestakk is a vital contribution to maintain activities around the Norwegian continental shelf,” states Torger Rød, mind of project development at Statoil.
The very first estimates for developing Trestakk were around NOK 10 billion. During the time of concept choice in The month of january 2016, the expense have been reduced to NOK 7 billion. According to further enhancements and concept adjustments up till financial commitment, the expense were reduced to NOK 5.5 billion. In addition, Statoil and it is partners be prepared to recover a lot more oil than initially anticipated.
The area development includes a subsea template along with a tied-in satellite well. Three production wells and 2 gas injection wells is going to be drilled.
“The Trestakk volumes are an essential contributor to maintain lucrative operation from the Åsgard A vessel as much as 2030. Additionally, it enables us to extract a lot of original Åsgard field volumes,” states Siri Espedal Kindem, mind from the operations north cluster in Statoil.
Cost reductions happen to be achieved with a novel method of concept choice, simplification and enhanced scope, additionally to benefitting from ongoing efficiency measures.
“This shows exactly what the industry has achieved in a couple of years. The Norwegian supplier industry has shown being able to help find high cost and quality-efficient solutions which allow us to understand projects like Trestakk, even just in a minimal oil cost atmosphere,” Rød concludes.