Statoil keen to sustain Norway momentum

Jan. 5, 2012
Statoil expects to maintain its current output offshore Norway – 600,000-700,000 b/d of new production – at least until 2020.

Offshore staff

STAVANGER, Norway – Statoil expects to maintain its current output offshore Norway – 600,000-700,000 b/d of new production – at least until 2020.

Last year the company made the potentially giant Aldous and Skrugard oil discoveries in the North Sea and Barents Sea.

Drilling on the Havis structure in the Berants Sea started in December, and will be followed by an appraisal well on Skrugard. Aldous and the Avaldsnes extension, operated by Lundin Norway, will most likely be developed as a regional hub on the Utsira High.

“In 2011 we made seven investment decisions, the aim being to put several of the fields onstream by early 2013,” said Øystein Michelsen, executive VP for Development and Production Norway.

Highlights include the Åsgard subsea gas compression project in the Norwegian Sea, designed to improve oil recovery and extend the life of the field, and commissioning of two new compressors on the Troll A platform to boost output from the Troll field in the North Sea.

“We will explore more and grow our portfolio,” Michelsen added. “Furthermore, we will maintain our efforts to maximize the recovery from existing fields, and continue the development of new acreage. At the same time it is important that we drive the opening of new exploration acreage.”

01/05/2012