By Dominic Chopping
Norway's Statoil (STO) has Tuesday submitted a new Plan for
Development and Operations (PDO) for the Gullfaks licence in the
Norwegian North Sea, involving the use of existing infrastructure
to target a new development at the Shetland/Lista prospect.
"Targeted efforts are underway to cut costs and increase the
profitability of our projects," said Ivar Aasheim, Senior Vice
President for Field Development on the Norwegian Cintinental Shelf.
"By utilising the existing infrastructure we manage to recover new
resources at a lower cost, thus sustaining profitable production
and long-term activities."
The development concept is based on reusing 15 existing wells
from the Gullfaks platforms, and will not require any new
infrastructure.
Phase 1 of the development is expected to add 18 million barrels
of oil equivalent, it said. Investment costs are estimated at
around NOK900 million.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@WSJNordics
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