Norwegian oil company Statoil has received an approval from the country’s Ministry of Petroleum and Energy for the installation of a new template at the Visund field offshore Norway.
Visund is an oil and gas field in blocks 34/8 and 34/7, 22 kilometers north-east of the Gullfaks field in the Tampen area of the Norwegian North Sea.
Developed with a floating production, drilling and quarters platform, the field came on stream in 1999.
The project that has now been approved allows for the connection of four new wells in the northern section of the field to the Visund platform in order to increase oil recovery.
Norwegian Minister of Petroleum and Energy, Terje Søviknes , said: “This project at Visund is a new, good example of new investments that provide increased recovery from existing fields.”
According to the ministry, the project has an estimated investment of approximately NOK 1.45 billion ($186 million). Recoverable resources are estimated at about 11.5 million barrels of oil equivalents. Production start is scheduled for the third quarter of 2018.
The project is operated by Statoil with 53.2 percent interest with Petoro (30 percent), ConocoPhillips (9.1 percent), and Total E & P Norge (7.7 percent) as its partners.
Earlier this year, TechnipFMC won an extension to its ongoing engineering, procurement and construction (EPC) contract from Statoil in the Norwegian sector of the North Sea.
The ongoing EPC project covered the provision of subsea equipment including template structure, manifold and two subsea trees including wellheads and modifications of control systems to the Visund Nord IOR (Improved Oil Recovery) project, whereas the extension included installation of the template structure and manifold as well as delivery and installation of flowline spool and umbilical.
Offshore Energy Today Staff