STAVANGER, Norway -- Statoil and its licensees in the Visund South project have submitted a plan for development and operation (PDO) to Norway’s Ministry of Petroleum and Energy. Production is due to start in summer 2012.
Visund South, encompassing the Pan and Pandora discoveries, is 10 km (6.2 mi) from both the Gullfaks C and the Visund A platforms.
Development will involve installation of a four-slot subsea template, with three wells drilled and tied in to Gullfaks C for processing. Statoil estimates a total investment cost of NOK 5.6 billion ($970 million).
Visund South holds an estimated 67 MMboe, comprising one-third oil and two-thirds gas. It was discovered in 2008/2009 in 290 m (951 ft) of water, and 2,900 m (9,514 ft) subsurface. Reservoir pressure is around 340 bar (4,931 psi).
According to project manager Hogne Pedersen, a fasttrack development is necessary due to the risk of pressure dropping on Visund South, resulting in a potential loss of reserves.
Last April a pipeline contract for this project was awarded to Sumitomo (Japan Steel Works) under a framework agreement. In June 2010, Statoil contracted FMC for subsea installations, and last fall, Subsea 7 was contracted for marine operations and a modification on Gullfaks C. Development drilling is due to start this summer.