Norway: Statoil Submits Plan for Hyme Fast-Track Development

Statoil today, 12 May, submitted a plan for development and operation (PDO) for Hyme (formerly Gygrid) in the Norwegian Sea to the Norwegian Ministry of Petroleum and Energy (MPE). First oil is scheduled for the first quarter of 2013.

The Hyme PDO is the fourth fast-track development plan submitted to the MPE this year.

Statoil has previously submitted fast-track development plans for Visund South, Vigdis North-East and Katla.

“Our fast-track development plans are now being materialised. We have now submitted PDOs for the discoveries that represented the start of this part of the portfolio. By halving the time from the discovery to first oil by means of standard solutions, smaller discoveries become profitable,” says Ivar Aasheim, head of Statoil’s field development on the Norwegian continental shelf.

An oil discovery on the Halten Terrace, the Hyme field development will include a production well and a water injection well through a subsea template with four well slots.

The field will be tied in to existing infrastructure on the Njord A platform, which has idle processing capacity.

”Tying in Hyme will extend Njord’s productive life from 2015 to 2020 and will help revitalise and ensure good utilisation of our long-standing experience and skills in this area,” says Arve Rennemo, head of Njord operations.

Discovered in June 2009, the Hyme field is located some 19 kilometres northeast of the Njord field in 250 metres of water. The recoverable reserves are estimated at 24 million barrels of oil equivalent (mboe) – the majority of which is oil. The investments are estimated at NOK 4.5 billion (in current NOK).

Facts

• Location: The Halten Terrace in the Norwegian Sea, 19 kilometres east of Njord
• Recoverable volumes: 24 mboe
• Investments: NOK 4.5 billion (current NOK)
• Discovered: June 2009
• First oil: Scheduled for the first quarter of 2013
• Partners: Statoil (operator) 35%, Petoro 7.5%, GDF SUEZ E&P Norge AS 20%, E.ON Ruhrgas Norge AS 17.5%, VNG Norge AS 2.5% and Norwegian Energy Company ASA 17.5%.

Kontrakter

• Subsea production system: Awarded to FMC in the fourth quarter of 2010 through an option in the Visund South contract
• Umbilical: Contract awarded to Nexans in the first quarter of 2011
• Flexible risers: Contract awarded to NKT in the first quarter of 2011
• Subsea template installation: Awarded to Subsea7 in the first quarter of 2011
• Pipelines and other manned installations: Awarded to Technip in the first quarter of 2011
• The last major contract, which covers platform modifications on the Njord field, will be awarded in the second quarter of 2011

[mappress]

Source: Statoil, May 12, 2011;