The Haltenbanken East project will be developed as a unit between four different licences and comprises six discoveries and three prospects with a combined volume in the order of 100 million boe, mostly gas.
Gunn Gadeholt, Asset Manager at Spirit Energy, said: “These discoveries were basically considered stranded assets – it would not have been economically viable to develop any of them on their own. The unitisation approach will unlock the potential and deliver value both in the development- and production phases of the project. It’s a smart solution that we and our partners can be proud of.”
The project is planned to be executed in two phases. The first will consist of drilling of six wells to five of the discoveries. The second phase includes the last discovery and three prospects, planned to be drilled as side-tracks from existing wells.
Gadeholt said: “Haltenbanken East delivers robust economics and is a good strategic fit for Spirit Energy. The objective of the next phase is to mature the project towards a final investment decision and a Plan for Development and Operations (PDO) to the Norwegian authorities."
Spirit Energy has a 11.8% working interest in the Haltenbanken East development. Equinor (57.7%) is operator, while the other licence partners are Vår Energi (24.6%) and Petoro (5.9%).
Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/20052021/joint-unitisation-project-to-be-carried-out-at-haltenbanken-east-development/