Statoil on fast road to recovery

 

Statoil aims to tap additional oil and gas resources of more than 1.2 billion barrels of oil equivalent through installation of compression technology on fields off Norway over the next few years.

The state-owned operator is targeting recovery of about 220 million additional barrels from start-up of a compressor on its Kvitebjorn platform this autumn and a further 522 million barrels – more than the combined resources of the Aasta Hansteen and Valemon fields - when two newly installed compressors start up at the Troll field next year.

It follows installation of an Aker Solutions-built compressor module at the Kristin platform that was brought into production earlier this summer and will boost recovery from the field by 160 million boe for a total investment of Nkr2 billion ($317.4 million), according to Statoil.

The company is widening application of compression technology, which lowers the pressure of output as it reaches the platform, to boost resource exploitation at mature fields off Norway and offset production decline.

Statoil aims to lift the average recovery rate on its Norwegian fields to 60% from the present level of around 50%.

The major push for improved oil recovery can generate increased hydrocarbon volumes equivalent to a medium-sized oilfield, with the Kristin compression effort to deliver more volumes than the Det Norske Oljeselskap-operated Ivar Aasen field and prolong the life of the field by at least five years.

Statoil has also installed compression technology on its Tyrihans and Njord fields, with plans to install it at Heidrun in the Norwegian Sea.

Furthermore, the operator is working on ground-breaking subsea compression projects at its Aasgard and Gullfaks fields that are due for implementation next year.

Statoil aims to tap an additional 280 million boe from the Mikkel and Midgard reservoirs at Aasgard in the Norwegian Sea using a Nkr3.4 billion subsea compression facility developed by Aker Solutions – making it the first field in the world to use such technology – that is scheduled to come on stream in the first quarter of 2015.

In addition, Schlumberger unit Framo Engineering is building a subsea compression system for Gullfaks South that will enable Statoil to tap another 22 million boe following scheduled start-up in the third quarter of next year, boosting the field’s gas recovery rate from 62% to 74%.

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