Statoil cuts costs of Johan Sverdrup
Published by Angharad Lock,
Digital Assistant Editor
Oilfield Technology,
According to Reuters, Statoil has decreased the initial costs of developing the Johan Sverdrup oilfield, North Sea, by 7%. The Johan Sverdrup is one of Norway’s biggest industrial projects. So far contracts worth 45 billion krones have been awarded for the field, which is estimated to hold between 1.7 billion to 3 billion boe.
Statoil has cut its first phase estimate to 114 billion Norwegian krones (US13.42 billion), partner Det Norske said. The reduction is founded on the same currency assumptions used in the initial development plan.
Reuters also reported that oil service contractor, FMC Technologies, said it had to reduce its costs to a level last seen five years ago in order to win a US$172 million contract for the Sverdrup development in the North Sea.
Edited by Angharad Lock
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/28092015/statoil-cuts-costs-of-johan-sverdrup-1493/
You might also like
Perenco completes acquisition of oil and gas fields from Woodside Energy in Trinidad & Tobago
Perenco has announced the completion of the acquisition of the Greater Angostura producing oil and gas assets and associated production facilities from Woodside Energy in Trinidad & Tobago. The finalisation of the deal, combined with Perenco’s existing operation of the Teak, Samaan and Poui (TSP) and Cashima, Amherstia, Flamboyant and Immortelle (CAFI) fields, aligns Perenco as a major oil and gas producer in country.
