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Statoil to clarify Njord future plans by year-end

ABERDEEN, UK – Production from the Njord and Hyme fields in the Norwegian Sea will be suspended at the end of May, after which the Njord A and B facilities will likely to be towed to shore, according to partner Faroe Petroleum.

The Njord Future Project is progressing toward concept and yard selection during 1Q-2Q, with a final investment decision (FID) and field development plan (FDP) submission expected in 4Q.

Operator Statoil plans a re-development of the Njord and Hyme fields, development through the facilities of Snilehorn and potentially more remote fields in the area, with production starting in 2019.

During the second half of this year Statoil aims to spud a well on a new prospect on the north flank of Njord, close to the main field. If successful, this would add further volumes to the Njord Future Project.

In partnership with operator VNG, Faroe will continue to mature the Pil, Bue, and Boomerang discoveries in the Norwegian Sea toward development, either as satellites to existing facilities or a standalone production system, based on an FPSO.

Front-end engineering and design (FEED) also continues for the Centrica-operated Butch oil field development in the Norwegian North Sea, a proposed subsea tieback to the BP-operated Ula oil field complex.

The FID and FDP submission are currently scheduled for 4Q. As with Njord, Faroe expects this development to benefit significantly from lower industry costs.

Last month the Kvalross exploratory well (Faroe 40%) started drilling in the Barents Sea. Operator Wintershall should issue the results by end-March.

This summer Faroe plans an exploration well on the Brasse prospect south of the Brage field in the North Sea, using the semisubmersible Transocean Arctic. A discovery could be tied back to either the Brage or the Oseberg complex.

Tag(s) : #Oil and Gas News
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