Hasselmus gas discovery to be developed

The Hasselmus project is expected to recover approximately 1.65 GSm³ (10.6 million boe) as fuel and export gas and will also make possible the restart of export of associated gas including NGL which is currently being injected into the reservoir.

The development concept is a single subsea well with direct tie-back to the Draugen platform. Production start-up is planned in 4Q23 with plateau gas production of more than 4400 boe/d gross. The breakeven price for the Hasselmus project is estimated to around US$28/boe or 85 øre/Sm³. Expected total investment cost for the project is NOK2.4 billion gross.

The Hasselmus gas discovery is located on the western edge of the Trøndelag platform in the Norwegian Sea, 7 km northwest of the Draugen platform, in production licence 093. A single well (6407/9-9 T2) was drilled on the Hasselmus structure by A/S Norske Shell in 1999 which encountered a 16 m gas column and a 6.8 m oil column in high quality sands at a depth of 1700 m.

"The Hasselmus project is the first field development project for OKEA as operator. Based on the single well subsea development solution with tie-back to the Draugen platform it is also a financially robust project’, said Knut Gjertsen, SVP Projects and Technology in OKEA. "The temporary tax measures adopted by Parliament in June last year, have ensured a timely development of Hasselmus during a period of significant market volatility."

"I am very pleased on my first day as CEO of OKEA to be able to announce that the Draugen licence has committed to developing the Hasselmus gas discovery,’ said new CEO Svein J. Liknes. ’‘The project is important for the long-term development of Draugen and demonstrates our ability to deliver on organic growth opportunities."

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