TotalFinaElf to develop Otter field in UK North Sea
March 22, 2001
TotalFinaElf SA and its partners Thursday said they have agreed on plans to develop Otter oil field in the northern UK sector of the North Sea, with production slated for the fourth quarter 2002. The plan remains subject to approval by the UK Department of Trade and Industry.
HOUSTON, Mar. 22�TotalFinaElf SA and its partners Thursday said they have agreed on plans to develop Otter oil field in the northern UK sector of the North Sea with production slated for the fourth quarter 2002.
The plan remains subject to approval by the UK Department of Trade and Industry.
TotalFinaElf operates Otter with a 54.29% interest. The partners are Agip, a division of Italian oil and natural gas company Eni SPA, 19%; Shell UK Exploration & Production, a unit of Royal Dutch/Shell Group, 13.35%; and ExxonMobil Corp., 13.35%.
Otter was discovered in 1977, and its estimated production plateau is 30,000 b/d. The development plan represents an investment of $206 million.
The development plan calls for five subsea wells. Three subsea wells will produce oil and two subsea wells will be water injection wells equipped with electrical pumps and tied back to the neighboring Eider platform, operated by Shell.
