• Upstream
  • Pipelines & Transport
  • Downstream
Oil&Gas Advancement
  • Home
  • News
    German Energy Regulator Does Not Dwarf Tough Road Ahead

    German Energy Regulator Does Not Dwarf Tough Road Ahead

    North Sea Hydrogen Pipelines Have A Huge Potential- Study

    North Sea Hydrogen Pipelines Have A Huge Potential- Study

    Study States European Natural Gas Rates To Multiply By 2024

    Russian Tax Overhaul Looks To Offset Oil Firms Revenue Dip

    EPA Urged To Keep Methane Emissions From Flares In Check

    Further Russian Oil Output Cuts Expected In Times To Come

    OPEC+ Deal Expected To Last Till The Year End- Saudi Arabia

    Quest For Russian Gas Options By Europe Hits Roadblocks

    Oil & Gas Needs An Investment Upsurge To Stall The Shortfall

    Two Gas Pipeline Construction From Russia To China Planned

  • Projects
    UN Condemns Energy Giants For Ignoring Science of All Things

    Global oil and gas projects pipeline at US$4 trn

    BP begins gas production at West Nile Delta project

    BP begins gas production at West Nile Delta project

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    ABB wins $79m order for Bab onshore project in Abu Dhabi

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    BHP successful in bids for blocks in the offshore Orphan Basin in Eastern Canada

    Operational excellence and safety continue to be a key driver in oil and gas sector

    Gazprom plans to carry forward cost efficient in 2018

    TGS announces new seismic project in the Anadarko basin

  • Whitepapers

    OGA 2017 Post Show Report

    US Polyethylene Export Market Report 2017-2020

    US Polyethylene Export Market Report 2017-2020

    Embedded SSD Flash Management

    Enterprise SSD: More Than Just a New Kind of Hard Drive

    Efficiency, Visibility and Reliability Keys to lower costs and greater profitability in oil and gas operations

    Don’t Miss the Unconventional Resource Revolution’s Next Wave

    Better Safety, Better Business: Maintain Compliance and Drive Revenue: Put All of Your Data to Work

    Breaking the Application Barrier: Why Data is the Most Valuable Asset in the Oil and Gas Industry

    Drilling Optimization Through Advanced Analytics Using Historical and Real-Time Data

  • Press Releases
    bp and Oman form strategic partnership to progress significant renewable energy and hydrogen development

    Saudi Arabia’s NEOM hydrogen mega-project cost soars to $8.5 billion

    OERA & ONHYM Reach Agreement to Enhance Offshore Energy Research & Development

    Santos receives major approval for oil and gas development offshore Western Australia

    Eni, Repsol press Maduro for more control to increase oil production from Venezuelan oil fields

    chevron invests in carbon capture and removal technology company, svante

    bp looks to further developments at Tangguh with PSC extension

    Falcon Oil & Gas completes successful drilling operations in Australia

    N’GENIUS solution on the horizon for oil, gas and LNG industry

    QatarEnergy, GE to develop carbon capture roadmap

    QatarEnergy, GE to develop carbon capture roadmap

    Equinor Energy

    Transocean secures offshore drilling rig contract from Wintershall and OMV

  • Market Reports
    CNOOC Limited Announces Caofeidian 11-1/11-6 Oilfield Comprehensive Adjustment Project Commences Production

    Vital Energy acquires oil production assets in Permian basin for $128 million

    INPEX sells Eagle Ford tight oil production and development assets to Repsol

    Matador Resources acquires Delaware basin assets for $1.6 billion

    Funding For Oil And Gas Industry Is Evolving Dramatically

    Marathon Oil Completes Eagle Ford Acquisition

    Neptune Energy producing natural gas from Merakes project in Indonesia

    Fresh Gas Supply Need Is Created By Australian Energy Crisis

    Chevron Announces $15 Billion Capital and Exploratory Budget for 2022

    Chevron Announces $15 Billion Capital and Exploratory Budget for 2022

    Aramco announces second quarter and half-year 2021 results

    Aramco announces second quarter and half-year 2021 results

    Empire Petroleum buys US oil and gas assets from ExxonMobil

    Empire Petroleum buys US oil and gas assets from ExxonMobil

  • Events
  • Contact Us
No Result
View All Result
  • Home
  • News
    German Energy Regulator Does Not Dwarf Tough Road Ahead

    German Energy Regulator Does Not Dwarf Tough Road Ahead

    North Sea Hydrogen Pipelines Have A Huge Potential- Study

    North Sea Hydrogen Pipelines Have A Huge Potential- Study

    Study States European Natural Gas Rates To Multiply By 2024

    Russian Tax Overhaul Looks To Offset Oil Firms Revenue Dip

    EPA Urged To Keep Methane Emissions From Flares In Check

    Further Russian Oil Output Cuts Expected In Times To Come

    OPEC+ Deal Expected To Last Till The Year End- Saudi Arabia

    Quest For Russian Gas Options By Europe Hits Roadblocks

    Oil & Gas Needs An Investment Upsurge To Stall The Shortfall

    Two Gas Pipeline Construction From Russia To China Planned

  • Projects
    UN Condemns Energy Giants For Ignoring Science of All Things

    Global oil and gas projects pipeline at US$4 trn

    BP begins gas production at West Nile Delta project

    BP begins gas production at West Nile Delta project

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    ABB wins $79m order for Bab onshore project in Abu Dhabi

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    BHP successful in bids for blocks in the offshore Orphan Basin in Eastern Canada

    Operational excellence and safety continue to be a key driver in oil and gas sector

    Gazprom plans to carry forward cost efficient in 2018

    TGS announces new seismic project in the Anadarko basin

  • Whitepapers

    OGA 2017 Post Show Report

    US Polyethylene Export Market Report 2017-2020

    US Polyethylene Export Market Report 2017-2020

    Embedded SSD Flash Management

    Enterprise SSD: More Than Just a New Kind of Hard Drive

    Efficiency, Visibility and Reliability Keys to lower costs and greater profitability in oil and gas operations

    Don’t Miss the Unconventional Resource Revolution’s Next Wave

    Better Safety, Better Business: Maintain Compliance and Drive Revenue: Put All of Your Data to Work

    Breaking the Application Barrier: Why Data is the Most Valuable Asset in the Oil and Gas Industry

    Drilling Optimization Through Advanced Analytics Using Historical and Real-Time Data

  • Press Releases
    bp and Oman form strategic partnership to progress significant renewable energy and hydrogen development

    Saudi Arabia’s NEOM hydrogen mega-project cost soars to $8.5 billion

    OERA & ONHYM Reach Agreement to Enhance Offshore Energy Research & Development

    Santos receives major approval for oil and gas development offshore Western Australia

    Eni, Repsol press Maduro for more control to increase oil production from Venezuelan oil fields

    chevron invests in carbon capture and removal technology company, svante

    bp looks to further developments at Tangguh with PSC extension

    Falcon Oil & Gas completes successful drilling operations in Australia

    N’GENIUS solution on the horizon for oil, gas and LNG industry

    QatarEnergy, GE to develop carbon capture roadmap

    QatarEnergy, GE to develop carbon capture roadmap

    Equinor Energy

    Transocean secures offshore drilling rig contract from Wintershall and OMV

  • Market Reports
    CNOOC Limited Announces Caofeidian 11-1/11-6 Oilfield Comprehensive Adjustment Project Commences Production

    Vital Energy acquires oil production assets in Permian basin for $128 million

    INPEX sells Eagle Ford tight oil production and development assets to Repsol

    Matador Resources acquires Delaware basin assets for $1.6 billion

    Funding For Oil And Gas Industry Is Evolving Dramatically

    Marathon Oil Completes Eagle Ford Acquisition

    Neptune Energy producing natural gas from Merakes project in Indonesia

    Fresh Gas Supply Need Is Created By Australian Energy Crisis

    Chevron Announces $15 Billion Capital and Exploratory Budget for 2022

    Chevron Announces $15 Billion Capital and Exploratory Budget for 2022

    Aramco announces second quarter and half-year 2021 results

    Aramco announces second quarter and half-year 2021 results

    Empire Petroleum buys US oil and gas assets from ExxonMobil

    Empire Petroleum buys US oil and gas assets from ExxonMobil

  • Events
  • Contact Us
No Result
View All Result
Oil&Gas Advancement
No Result
View All Result
Home Europe

Statoil phase 2 of Sverdrup oilfield to cost up to NOK 55 bln

Yuvraj_ong by Yuvraj_ong
March 21, 2017
in Europe, News, Upstream
0

The Johan Sverdrup partnership has now decided to proceed with (DG2) Phase 2 of the Johan Sverdrup development, awarding FEED contracts to Aker Solutions, Kværner and Siemens.

Phase 1 of Johan Sverdrup is under development, with first oil scheduled for late 2019.  The partners will now proceed with maturing Phase 2 for the investment decision and submission of the plan for development and operation (PDO) in the second half of 2018. Phase 2 is scheduled to come on stream in 2022.

“We must take a generational perspective on the Johan Sverdrup development. Working closely with partners and government authorities we now have a plan for Phase 2 that maximizes value for society, industry and the licensees”, says Statoil’s project director for Johan Sverdrup, Kjetel Digre.

“The Johan Sverdrup suppliers have demonstrated a willingness and capabilities to develop good solutions in a partnership with us. The contributions have been key to the improvements we have achieved so far. We are pleased to see that this trend is being progressed in the awarded FEED contracts. And we see that Norwegian suppliers are competitive in an international market,” says Digre.

Statoil has implemented several improvement programmes for phase 2 in the Johan Sverdrup development. Capital expenditures for Phase 2 are now estimated at between NOK 40 – 55 billion (NOK billion nominal, fixed currency and excluding IOR), halving the estimate since the PDO was submitted for Phase 1 of Johan Sverdrup.

“The quality of phase 1 and the improvement work we have performed with our partners and suppliers  for phase 2 has enhanced profitability. The break-even price for the full-field development is now less than USD 25 per barrel and with an ambition of a world class recovery rate of 70 %,” says Digre.Portrait of Kjetel DigreKjetel DigreStatoil’s project director for Johan Sverdrup

The partnership has also decided on the development concept for Johan Sverdrup. Phase 1 of the development establishes a field centre consisting of four platforms on the field. Phase 2 builds on this infrastructure, adding another processing platform to the field centre. Overall this will result in a processing capacity of 660 000 barrels of oil per day.

 

The following FEED contracts will be awarded in connection with the decision to proceed with the development that has now been made:

Processing platform, Aker Solutions
Jacket, Kvaerner
Power supply from shore, Siemens

Phase 2 also includes the development of the Avaldsnes (east), Kvitsøy (south) and Geitungen (north) satellite areas to be phased in for processing and export on the field centre.

28 new wells are planned to be drilled in connection with the Phase 2 development.The Phase 2 concept also includes the establishment of an area-wide solution for power from shore for the Utsira High by 2022.

Maturing and planning Phase 2 parallel with the development of Phase 1 will ensure a consistent full-field solution and cost-efficient hook-up when Phase 1 is on stream. With a field life estimated at 50 years, Johan Sverdrup will generate great value for society and the partners.

FACTS ABOUT JOHAN SVERDRUP

Phase 1

Includes the development of four platforms, three subsea installations for water injection, power from shore, export pipeline for oil (Mongstad) and gas (Kårstø)
Under development. Approx. 40 % of the development is completed
More than NOK 60 billion worth of contracts awarded. More than 70 % of the suppliers with a Norwegian billing address
CAPEX estimate: NOK 97 billion
Break-even Phase 1: Below USD 20 per barrel
Production start: late 2019

Phase 2

Includes development of another processing platform for the field centre + the Avaldsnes, Kvitsøy and Geitungen satellite areas, in addition to power from shore to the Utsira High in 2022
Made the DG2 decision to proceed with the development
Investment decision (DG3) and submission of the plan for development and operation: Second half of 2018
Investment estimate: NOK 40 – 55 billion
Break-even price: Below USD 30 per barrel
Production start: 2022


Full field (Phase 1 + Phase 2)

Includes both Phase 1 and Phase 2 of the Johan Sverdrup development
Resource estimate: 2.0 – 3.0 billion barrels of oil equivalent
Break-even price: below USD 25 per barrel.

Previous Post

GustoMSC introduces new self-propelled cantilever jackup

Next Post

Algeria Sonatrach to invest $50 billion, boost crude output

Related Posts

German Energy Regulator Does Not Dwarf Tough Road Ahead
Downstream

German Energy Regulator Does Not Dwarf Tough Road Ahead

March 22, 2023
North Sea Hydrogen Pipelines Have A Huge Potential- Study
News

North Sea Hydrogen Pipelines Have A Huge Potential- Study

March 18, 2023
Downstream

Study States European Natural Gas Rates To Multiply By 2024

March 1, 2023
Downstream

Russian Tax Overhaul Looks To Offset Oil Firms Revenue Dip

February 27, 2023
Downstream

EPA Urged To Keep Methane Emissions From Flares In Check

February 24, 2023
Downstream

Further Russian Oil Output Cuts Expected In Times To Come

February 24, 2023
Next Post

Algeria Sonatrach to invest $50 billion, boost crude output

Latest Post

Downstream

Further Russian Oil Output Cuts Expected In Times To Come

February 24, 2023
Featured

OPEC+ Deal Expected To Last Till The Year End- Saudi Arabia

February 21, 2023
Quest For Russian Gas Options By Europe Hits Roadblocks
Featured

Oil & Gas Needs An Investment Upsurge To Stall The Shortfall

February 17, 2023
Featured

Two Gas Pipeline Construction From Russia To China Planned

February 17, 2023
Cepsa, the only Spanish energy company to obtain the EFQM 600 Seal for its LPG business
Featured

Cepsa, the only Spanish energy company to obtain the EFQM 600 Seal for its LPG business

February 16, 2023
Hapag-Lloyd first in world to convert large container ship to LNG
News

Germany to sign long-term LNG supply deal with Oman

February 16, 2023
Oil&Gas Advancement

About Us

Oil and Gas Advancement is an information centric knowledge sharing platform focused on the latest news in the B2B oil and gas sector bringing to our audiences B2B updates on upstream, downstream, pipeline and transport categories providing information on the latest projects and developments.

Resources

  • Advertise with us
  • Contact Us
  • Newsletter Archive
  • Download Mediapack

System

  • Search
  • Site Map
  • RSS Feed
  • Upstream
  • Pipelines & Transport
  • Downstream

© 2018 Copyright Valuemediaservices 2018 All rights reserved.

No Result
View All Result
  • Home
  • News
  • Projects
  • Whitepapers
  • Press Releases
  • Market Reports
  • Events
  • Contact Us

© 2018 Copyright Valuemediaservices 2018 All rights reserved.