Glitne reserves upgraded

Sept. 25, 2003
The producing life of Statoil's North Sea Glitne field has been almost doubled, according to its new forecast, and is likely to extend until the end of 2005. Recoverable reserves in the development have been upgraded by 50% from the estimate in the original plan for development and operation, Statoil said.

By OGJ editors

HOUSTON, Sept. 25 -- The producing life of Statoil ASA's North Sea Glitne field has been almost doubled, according to its new forecast, and is likely to extend until the end of 2005. Recoverable reserves in the development have been upgraded by 50% from the estimate in the original plan for development and operation, Statoil said.

Although Glitne production currently exceeds 25 million bbl, the new calculation suggests that total recovery could be 37 million bbl. The additional oil is worth 2.5 billion kroner at current prices

The improvement is attributed partly to good well location in the reservoir, a lower-than-expected water cut, and better pressure support, Statoil said.

Glitne's four original production wells will yield some 6million bbl of oil above forecasts. A new well now being completed is expected to recover 6 million bbl.