By OGJ editors
HOUSTON, Aug. 23 -- Statoil ASA and partners plan to conduct feasibility studies on Snøhvit field in the Barents Sea to assess commerciality of Snøhvit oil production and options for development.
The field's plan for development and operation (PDO), adopted by the Norwegian parliament in March 2002, prepared only for development of the field's gas resources. Studies performed prior to the approval of this PDO concluded that production of the oil zone would not be profitable. The Snøhvit oil zone is just some 14 m thick.
Geir Pettersen, manager of the Tromsø Patch business cluster, which includes Snøhvit operations, said, "The [planned] studies are based on new knowledge after the gas wells were drilled in Snøhvit, and expectations for a higher long-term oil price."
Plans for a possible appraisal well for better identification of the oil zone in Snøhvit is due to begin. A final decision will be made by yearend. If the appraisal well is approved, it may be drilled in first quarter 2007.
Snøhvit licensees are Statoil 33.53%, Petoro SA 30%, Total E&P Norge 18.40%, Gaz de France 12%, Amerada Hess Norge 3.26%, and RWE Dea Norge 2.81%.
