Faroe’s Njord and Hyme fields recommence production

Faroe Petroleum has announced that production has recommenced at the Njord and Hyme fields in the Norwegian Sea. Faroe has a 7.5% interest in these fields.

The fields have been successfully brought back onto production following a structural reinforcement project, carried out on location, which has been completed by operator Statoil, on time and on budget.

Repair and maintenance

In July 2013, production from the Njord and Hyme fields was shut in for a period of scheduled repair and maintenance. During this period, and as a result of the introduction of a new structural integrity model, it was concluded that the deck structure of the Njord A floating facility needed to be reinforced before production could recommence.

Average production from Njord and Hyme prior to the 2013 shut-in was approximately 48,000 boepd (gross) and 3600 boepd (net to Faroe). During the production shut-in period, water injection introduced at the Hyme field has returned the reservoir pressure to the levels seen during pre-production for the field.

Production at the fields is now expected to continue without significant further structural work until mid-2016, after which time further modifications are expected to be undertaken on the facility. However, as a result of continued weight restrictions, Njord A will not be able to operate its drilling facility to drill further development wells until such modifications have been made.

Comments

Graham Stewart, CEO of Faroe Petroleum, commented:“We are very pleased to have successfully brought Njord and Hyme back on stream, and that the work has been completed on schedule and within budget. With net production from these two fields at around 3,600 boepd prior to shut-in, they are important sources of production and cash flow for the Group, and they are expected to remain on production until mid-2016 before any further modifications are carried out on the facility. Once our recently announced Schooner and Ketch field acquisitions have completed later this year Group production will increase further.

“The Halten Terrace area is proving to be a significant core area for Faroe Petroleum. We have interests in Njord, Hyme and Snilehorn as well as the recent significant Pil and Bue discoveries. The discovered resources across our licences in this area are now very material and also offer the potential for significant resource additions from the Pil follow-up wells in 2015 giving us the capacity to deliver substantial shareholder value going forward.”

Adapted from press release by Katie Woodward

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/22072014/njord-and-hyme-fields-back-online-1102/