Statoil groups eye next steps in Barents, North seas

Groups led by Statoil ASA plan to further explore the Barents Sea offshore Norway in the vicinity of the Skrugard and Havis discoveries while working toward a late 2018 production start for the Johann Sverdrup discovery in the North Sea west of Stavanger.

Statoil ASA, Eni Norge AS, and Petoro AS plan to drill four exploratory prospects in the Skrugard area starting in late 2012 on the PL532 and PL608 production licenses in the Barents. The West Hercules semisubmersible will be winterized and will drill the prospects back to back.

First up is the Nunatak prospect followed by Skavl, both on PL532, and then Iskrystall on PL608. The fourth will be announced later. All four are to have been drilled by late spring-early summer 2013. On seismic over some of the prospects Statoil has observed flat spots of the same type as at Skrugard and Havis, said Knut Harald Nygard, Statoil vice-president for exploration in the Skrugard area.

“We are very satisfied with our recent exploration achievements in the Barents Sea. In less than a year, we have made two substantial oil discoveries in PL532, proving 400-600 million bbl of recoverable oil. We have also drilled a successful appraisal well on Skrugard confirming volume estimates and collecting data for field development planning,” Nygard said.

Statoil is operator and has 50% interest in each license. Eni Norge has 30% and Petoro 20%.

Meanwhile at Johan Sverdrup, Statoil is to select a development concept in the last quarter of 2013 and will submit a development and operation plan to Norwegian authorities in late 2014. The field is expected to produce for more than 30 years, said Oivind Reinertsen, project director.

Statoil will serve as operator until an investment decision is taken and the PDO submitted. Statoil has previously developed Gudrun, Edvard Grieg, and Draupne fields in the same area, but Johan Sverdrup’s areal extent is 180 sq km over which the oil-bearing formation varies in thickness.

The Utsira high where the field is located is regarded as a new area and also requires integrated solutions for power supply and oil export, Statoil added.

Work on the development will draw on the experience and knowledge of Statoil, Lundin Petroleum AB, Petoro, Det Norske Oljeselskap, and Maersk Oil. The field will become a hub for processing and transport.

The Sverdrup reservoir is at 1,900 m in 110 m of water 140 km west of Stavanger. The field is comprised of discoveries on PL501 and PL265 that form a single field.

Lundin Petroleum operates PL501 with 40% interest, Statoil has 40%, and Maersk Oil has 20%. Statoil operates PL265 with 40% interest, Petoro has 30%, DNO 20%, and Lundin Petroleum 10%.