Saturday, 19 October 2019

Oil & Gas News

Equinor and Partners Make Oil Discovery in the Oseberg Area

Equinor has, on behalf of the Oseberg partners, made a profitable oil discovery related to Oseberg Vestflanken. The well was drilled by the Askepott rig and the discovery will soon be put on stream via the new, unmanned and remote-operated H platform on the Oseberg field.

Included in the Oseberg Vestflanken phase 2 project, the exploration extension well 30/6-H-9-T4 proved a 112-meter oil column in a segment that has not been tested before. Oil was proven in the Statfjord formation in southern parts of the Alpha structure on Oseberg.

Reservoir characteristics are excellent with high oil saturation. Recoverable resources are estimated at 22 million barrels of oil. The partners will consider water injection to further increase recoverable volumes.

“This discovery improves the Oseberg Vestflanken resource base. It can be put on stream with limited investments and adds significant value to the partnership. We are combining drilling of exploration and production wells to achieve highly profitable exploration wells at low cost,” says Gunnar Nakken, senior vice president for the operations west cluster of Equinor.

“Discoveries as these underline the importance of near-field exploration. Our ambition is to maintain profitable production from the Norwegian continental shelf (NCS) for several decades. A major contribution will come from wells that are drilled at low cost and close to existing infrastructure,” says Nakken.

Equinor’s NCS roadmap focuses on developing our key hubs for sustainable and long-term value creation. The Oseberg area is such a hub, offering a good resource base and possible future tie-ins from fields in the area.

The unmanned and remote-operated wellhead platform Oseberg H came on stream less than a year ago. The well was drilled by the Oseberg license’s new, state-of-the-art Cat J-rig Askepott on its first assignments on Vestflanken.

“Having played a key role in the Norwegian oil adventure, Oseberg will continue to be important to us for a long time going forward. We are therefore pleased to see that recent investments in the area prove to be good business for both partners and society,” continues Nakken.

Oseberg is one of the big «elephants» on the NCS. At the end of 2017, Oseberg was the third largest oil producer on the NCS having produced around 2.9 billion barrels of oil. Original development plans were based on an oil production of around 2.0 billion barrels. Current expectations are that 3.1 billion barrels of oil will be produced during the lifetime of the field.

We aim to keep you updated weekly with relevant information concerning the Offshore Energy Sector.

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