More fast-track developments on the Norwegian shelf
Statoil's emphasis on standardised development concepts for small, marginal fields continues at full strength.
The objective is to have five fields in operation in late 2012/early 2013, and the ambition is to deliver five new projects each year in the future.
The company presented its work on fast-track developments to the press in an event in Oslo/Stavanger on Tuesday, 31 May.
The speed goes up and the costs down with this type of development for smaller fields.
Half of the oil and gas on the Norwegian shelf is in the ground, but the large independent discoveries are rare.
Of the remaining development candidates on the Norwegian shelf, three of four are classified as smaller discoveries.
Here fast-track developments could be an answer, with a transition from large, customised solutions to standardised solutions and work processes to obtain economies of scale.
These smaller discoveries will be developed through simple concepts with one seabed template and just a few wells.
Statoil is the operator of a major part of the infrastructure in the established areas. Exploitation of existing infrastructure is one of the keys to making this portfolio profitable, in addition to expanding the lifetime for existing installations and transportation solutions.
Traditionally, the company has searched extensively for the optimal solutions. However, these small, marginal fields cannot be made profitable this way.
The upside of avoiding customised concepts is a halving of the time from discovery to production (from 5 to 2.5 years), an expected cost reduction of 30% and stronger profitability in marginal discoveries.