Drilling starts on NOK798 million North Sea Fram field, as operators Statoil continue aim for first production by August this year.
Fram C East, will be developed as a subsea field, and tied-back to the nearby Troll C platform in the Norwegian sector of the North Sea.
The Green Light
Thursday saw the green light given by the Norwegian regulators, the PSA, allowing development, and in particular drilling, to commence.
Operators Statoil plan to fast track develop of Fram C East, using existing technology and infrastructure, as part of its model to deliver profitability in the current market of low oil prices.
This will include drilling just one well, at an existing subsea template. Oil produce with then be pumped, subsea, to the firm’s Troll C platform for processing and transportation onto the mainland.
A $14 Barrel Of Oil
Statoil expects that at total NOK 798 million (US$ 96m), will be required to complete the development, which will brining the cost per barrel to as little as US$14.
Further Statoil claims that the reservoir, containing recoverable reserves of 18 million barrels of oil and 1.6 billion cubic meters of gas, could be further developed to increase output with little expense using water injection.
The Stena Don semisubmersible drilling rig will now mobilise to drill the production well at Fram C East, located approximately 12.5 miles (20km) north of the Troll field, in a water depth of 1,148 feet (350m).
Stena Don Rig
The Stena Don is a mid-water semisubmersible drilling rig, delivered in 2001 by Kvaerner Warnow Werft, shipyard in Germany.
The Don has the design capability to operate in a maximum water depth of 1,640 feet (500m), and drill to a maximum depth of 27,800 feet (8,473m).