Statoil and partners submitted today the Plan for Development and Operation for the Byrding North Sea field to government authorities.
According to a statement issued by Statoil, capital expenditures are estimated at approximately NOK 1 billion (£92.6 million) with recoverable volumes of around 11 million barrels of oil equivalent (boe).
“This is another example of a new discovery being realised through existing infrastructure,” Statoil’s senior vice president for project development, Torget Rød, said.
Statoil Submits North Sea Field Development Plan
The Byrding development includes a duo-lateral well drilled from the existing Fram H-Nord subsea template.
Oil and gas from Byrding will flow through this subsea template to Troll C.
From there, it will be piped through existing pipelines to Mongstad and Kollnes, respectively, the company informed.
Byrding Oil and Gas Will Flow From a Subsea Template to Troll C
“Byrding shows that successful improvement efforts in Statoil, and in this case particularly within drilling and well, allow new development projects to be realised,” Rød added.
The capital expenditure on the project was reduced from an initial estimate of approximately NOK 3.5 billion (£324.14 million) to the current estimate of approximately £92.6 million.
Byrding Costs Reduced with Existing Infrastructure
The well to be drilled is approximately seven kilometres (4.34 miles) long and the first miles are shared by the two laterals of the well.
The field is scheduled to come on stream in the third quarter of 2017 and is expected to remain on stream for eight to ten years, according to the plan.
“Combined with the use of an available well slot in existing subsea template, this reduces the costs of the project substantially. The project is profitable also in the current oil price environment,” the Statoil executive explained further.
“Byrding will add new profitable volumes from the Troll/Fram area, boosting the activity and production on the Troll C platform,” Statoil’s senior vice president for Operations West, Gunnar Nakken, said.Last updated on 10:16AM - 21/08/16