STAVANGER, Norway – Smørbukk Northeast will be developed as a satellite to the Åsgard B platform. Partners in the Norwegian Sea license made the investment decision to proceed with the development. Production is expected in 4Q 2011.
“From sanctioning to start-up of the project we will need 13–14 months,” says project manager Helge Rivelsrud. “This will be one of the fastest developments ever in the Norwegian Sea.”
The early start-up is possible by using an existing exploration well as a production well. Subsea equipment originally built for the Sigrid field will be modified and applied.
Recoverable reserves of oil, gas, and condensate on Smørbukk Northeast are estimated at around 15 MMboe. The expected development investment is close to NOK 1 billion ($167 million).
Partners in Smørbukk Northeast are Statoil as operator (34.57%), Petoro (35.69%), Eni Norge (14.82%), ExxonMobil (7.24%), and Total (7.68%).