Statoil gains approval for Trestakk PDO in Norwegian Sea
Norway’s Ministry of Petroleum and Energy has approved the plan for development and operation (PDO) of the Statoil ASA-operated Trestakk discovery on the Halten Bank in the Norwegian Sea.
Field development comprises a subsea template and a tied-in satellite well. Three production wells and two gas injection wells also will be drilled. Statoil estimates that the field has recoverable volumes of 76 million boe, most of which is oil. Tied in to the Asgard A production vessel, Trestakk is expected to come on stream in 2019.
“The Trestakk volumes are an important contributor in maintaining profitable operation of the Asgard A vessel up to 2030,” explained Siri Espedal Kindem, Statoil head of operations, north cluster. “It also enables us to extract more of the original Asgard field volumes.”
Statoil says project investment is calculated at about $640 million, almost half of the original estimate, as a result of concept choice, simplification, and optimized scope. The firm also says it expects to recover more oil than originally expected.
“This is a good example of what we are able to achieve in collaboration with our license partners and suppliers by innovative thinking and spending enough time on maturing the best concept choice,” said Torger Rod, Statoil head of project development.
Discovered in 1986 by the 6406/3-2 well, Trestakk lies in 300 m of water 20 km south of Asgard (OGJ Online, Nov. 1, 2016). FMC Technologies Inc. and Technip Norge AS are slated to jointly handle engineering, procurement, construction, and installation, and Aker Solutions ASA will handle topside work at Asgard A (OGJ Online, Nov. 4, 2016).
Statoil holds 59.1% interest in Trestakk. Partners are ExxonMobil Exploration & Production Norway AS 33% and Eni Norge AS 7.9 %.