Jackup to produce Volve

Statoil is looking to develop its Volve field in the North Sea with a jackup, serving as a drilling and production platform.

Dec 16th, 2004

Statoil is looking to develop its Volve field in the North Sea with a jackup, serving as a drilling and production platform. Statoil will submit an NKr6 billion scheme to the Norwegian planning approval authorities in February, calling for three producer, three water injector, and two water production wells to be drilled from the platform, with first oil expected early in 2007. Statoil has issued letters of intent to Mærsk for itsInspirer jackup and to Teekay Norge for the tanker Navion Saga, which will store Volve's oil. The associated contracts could be worth up to NKr4 billion combined, depending on field performance. Statoil is looking for at least four years of production. Recoverable reserves are estimated at 60 MMbbl of oil and 1 bcm of gas, with plateau output of 50,00 b/d.

According to London-based field analysts Scanboss, Volve is the second in a series of small black oil developments Statoil has tackled in the southern Viking Graben area between Sleipner and Heimdal: the other field onstream from this pool is Glitne, which was developed through an FPSO. That was also the production solution proposed by Bluewater and PGS when tenders were invited for Volve. The latter lies in Jurassic/Triassic horizons and was discovered in 1993; two appraisal sidetracks followed in 1997-98, with mixed results.

Statoil has also issued a major hardware contract for its Skinfaks/Rimfaks satellite developments. FMC Kongsberg Subsea will provide a NKr500 million package including one subsea template, six christmas trees, and two manifolds. Skinfaks, which comprises several small reservoirs, is being tied back to existing subsea templates on Rimfaks, which was brought into production in 2000 via subsea facilities linked to the Gullfaks A platform. Under the new scheme, recovery from Rimfaks should also be lifted by drilling further wells, but with new tie-ins for both this field and Skinfaks to Gullfaks C. Production should start in November 2006.

12-16-04

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