Statoil takes Morvin through Åsgard
Oil has started flowing from Statoil’s Morvin subsea development in the Norwegian Sea.
STAVANGER, Norway - Oil has started flowing from Statoil’s Morvin subsea development in the Norwegian Sea.
The field, 20 km (12.4 mi) west of the Åsgard B platform on the Halten Bank, is being developed through two seabed templates and four production wells. Its well stream is exported through a pipeline to Åsgard B for processing.
Initial production will be around 24,000 boe/d, and start-up of the second well will more than double the yield to 51,000 boe/d.
Morvin was discovered in 2001. Statoil submitted its plan for development and operation in February 2008, and received approval from Norway’s authorities two months later.
Recoverable reserves are estimated at 70 MMboe, with a production life span of around 15 years. Statoil estimates development costs at NOK 8.7 billion ($1.45 billion). Partners are Eni and Total.