Statoil releases ‘Snorre 2040’ development concept

Norway’s Statoil ASA has recommended the construction of a new drilling and processing platform for extracting the remaining reserves from Snorre field in the North Sea.

Together with Petoro and the other license partners, Statoil has worked to find solution for extending the life of the field to 2040.

An evaluation of the “Snorre 2040” project has been carried out with examination of two development concepts: a subsea development with continued use of the Snorre A and B platforms or a development with a new platform tied in to Snorre A and B.

“The platform solution is the best alternative for maximizing production and creating the greatest possible value,” said Oystein Michelsen, Statoil executive vice-president for the Norwegian shelf.

“Snorre 2040 is an important improved oil recovery project and supports our ambition of achieving an average oil recovery rate of 60% from our fields on the Norwegian shelf,” Michelsen said.

Snorre field reserves are currently estimated at 1.55 billion bbl of oil. The original estimate when the plan for development and operation (PDO) was submitted in 1989 was about 760 million bbl of oil.

“An important contribution to the increase in recoverable reserves came with the decision to install a second platform, Snorre B, on the northern part of the field, and to start reinjection of produced gas from the mid-1990s,” Statoil said.

Currently, the estimated recovery rate from Snorre is 47%, but the field “has an ambition of implementing additional IOR measures that will enable the field to increase the recovery rate to 55%,” the company said.

Michelsen noted, “The change in the petroleum tax rules that was adopted in May also undermines the financial conditions of Snorre 2040, which means that we have to spend more time on maturing the project.”

The final development concept decision is slated for first-quarter 2015.

A new drilling and processing platform also will facilitate tie-in of other discoveries in the area, the company said, adding that these are resources that might otherwise have ended up being not profitable to recover.

Snorre license parters are Statoil 33.27556%, Petoro 30%, ExxonMobil E&P Norway 17.44596%, Idemitsu Petroleum Norge 9.6%, RWE Dea Norge 8.57108%, and Core Energy 1.1074%.

Related Articles

Severance tax would backfire, Pennsylvania association leaders warn

12/17/2014 Enacting a severance tax aimed at Pennsylvania’s unconventional natural gas activity would substantially harm the commonwealth beyond the industry ...

New York state moves to ban hydraulic fracturing

12/17/2014 High-volume hydraulic fracturing will be banned in the state of New York, Gov. Andrew Cuomo’s administration announced Dec. 17, citing health risks...

Rumaila to ramp up production 50% by end of decade

12/17/2014 The Rumaila Operating Organization (ROO)—a partnership of South Oil Co., BP PLC, PetroChina Co. Ltd., and Iraq’s State Oil Marketing Organization (...

Norway production declined in November, NPD says

12/17/2014

Norway’s liquids production averaged 1.939 million b/d in November, about 1% less than October, the Norwegian Petroleum Directorate reported.

Encana to focus spending on four core shale assets in 2015

12/16/2014 Encana Corp., Calgary, reported plans to spend $2.7-2.9 billion on its capital budget with roughly 80% of this total directed towards four of what ...

Development plan outlined for Gullfaks Rimfaks Valley

12/16/2014 A consortium led by Statoil ASA has submitted a development plan for the Rutil discovery in the North Sea’s Gullfaks Rimfaks Valley that will exten...

Cenovus trims budget, slows oil sands work

12/16/2014 Cenovus Energy Inc., Calgary, is trimming its capital spending in response to declining crude oil prices and will slow development of some of its t...

Pengrowth starts commercial steam operations at Lindbergh thermal project

12/16/2014 Pengrowth Energy Corp., Calgary, reported the startup of commercial steam operations at Phase 1 of its Lindbergh thermal project in the Cold Lake a...

Repsol to acquire Talisman in $13 billion deal

12/16/2014 Spain’s Repsol SA has agreed to acquire all shares of Talisman Energy Inc. of Calgary for $8.3 billion along with assumed debt of $4.7 billion. The...

White Papers

What is System Level Thermo-Fluid Analysis?

This paper will explain some of the fundamentals of System Level Thermo-Fluid Analysis and demonstrate...

Accurate Thermo-Fluid Simulation in Real Time Environments

The crux of any task undertaken in System Level Thermo-Fluid Analysis is striking a balance between ti...

6 ways for Energy, Chemical and Oil and Gas Companies to Avert the Impending Workforce Crisis

As many as half of the skilled workers in energy, chemical and oil & gas industries are quickly he...
Sponsored by

AVEVA NET Accesses and Manages the Digital Asset

Global demand for new process plants, power plants and infrastructure is increasing steadily with the ...
Sponsored by

AVEVA’s Approach for the Digital Asset

To meet the requirements for leaner project execution and more efficient operations while transferring...
Sponsored by

Diversification - the technology aspects

In tough times, businesses seek to diversify into adjacent markets or to apply their skills and resour...
Sponsored by

Engineering & Design for Lean Construction

Modern marketing rhetoric claims that, in order to cut out expensive costs and reduce risks during the...
Sponsored by

Object Lessons - Why control of engineering design at the object level is essential for efficient project execution

Whatever the task, there is usually only one way to do it right and many more to do it wrong. In the c...
Sponsored by

Available Webcasts



The Future of US Refining

When Fri, Feb 6, 2015

Oil & Gas Journal’s Feb. 6, 2015, webcast will focus on the future of US refining as various forces this year conspire to pull the industry in different directions. Lower oil prices generally reduce feedstock costs, but they have also lowered refiners’ returns, as 2015 begins with refined products priced at lows not seen in years. If lower per-barrel crude prices dampen production of lighter crudes among shale plays, what will happen to refiners’ plans to export more barrels of lighter crudes? And as always, refiners will be affected by government regulations, particularly those that suppress demand, increase costs, or limit access to markets or supply.

register:WEBCAST



On Demand

Oil & Gas Journal’s Forecast & Review/Worldwide Pipeline Construction 2015

Fri, Jan 30, 2015

The  Forecast & Review/Worldwide Pipeline Construction 2015 Webcast will address Oil & Gas Journal’s outlooks for the oil market and pipeline construction in a year of turbulence. Based on two annual special reports, the webcast will be presented by OGJ Editor Bob Tippee and OGJ Managing Editor-Technology Chris Smith.
The Forecast & Review portion of the webcast will identify forces underlying the collapse in crude oil prices and assess prospects for changes essential to recovery—all in the context of geopolitical pressures buffeting the market.

register:WEBCAST


Optimizing your asset management practices to mitigate the effects of a down market

Thu, Dec 11, 2014

The oil and gas market is in constant flux, and as the price of BOE (Barrel of Oil Equivalent) goes down it is increasingly important to optimize your asset management strategy to stay afloat.  Attend this webinar to learn how developing a solid asset management plan can help your company mitigate costs in any market.

register:WEBCAST


Parylene Conformal Coatings for the Oil & Gas Industry

Thu, Nov 20, 2014

In this concise 30-minute webinar, participants have an opportunity to learn more about how Parylene coatings are applied, their features, and the value they add to devices and components.

register:WEBCAST


Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected