Equinor downgrades reserves at Mariner

Equinor Energy AS revised downward its estimated total recoverable reserves in Mariner oil field to 180 million bbl from the previous estimate of about 275 million bbl.

Mariner lies on the East Shetland Platform of the UK North Sea, about 150 km east of Shetland and 320 km northeast of Aberdeen. The field began producing in 2019 and consists of two reservoirs: Heimdal and Maureen (OGJ Online, Aug. 15, 2019).

The reserve revision is linked to an updated seismic interpretation and experience from production of the Maureen reservoir which led to a revised reservoir model. This model is further supported by results from the first well drilled into the Heimdal reservoir in fourth-quarter 2021.

The revision will result in an impairment of about $1.8 billion, which will be reflected in IFRS net operating income for Equinor’s Exploration and Production International segment in fourth-quarter 2021. Results will be reported Feb. 9, 2022.

Mariner field development includes a production, drilling, and quarters platform based on a steel jacket, with oil exported to a floating storage unit and then transported to shore via tankers.

Equinor is operator at Mariner (65.11%) with partners JX Nippon Corp. (20%), Siccar Point Energy E&P (8.89%), and ONE-Dyas BV (6%).