Statoil

Statoil is seeking to extend output from its Snorre oil field in the southern Norwegian Sea by some 25 years under a recently announced $2.26-billion investment plan, which is subject to formal approval by government authorities. The work should increase recovery from the field by almost 200 million bbl, with the new production to start in 2021, the company said. The plan includes drilling 24 wells, including 12 producers and 12 injectors, and building six subsea templates that will be tied into the Snorre A platform. The field produced 80,000 B/D of oil per day during the first 10 months of 2017, according to Norwegian Petroleum Directorate. Statoil’s partners in the Snorre license are Petoro, ExxonMobil, Idemitsu, DEA, and Point Resources.


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