Report: Statoil soon to put Castberg development proposal on the table?

Statoil, a Norwegian oil and gas giant, is reportedly moving towards presenting a proposal on how to develop its 600-million barrel oil field in the Barents Sea, the Johan Castberg, to the country’s oil regulator, the Norwegian Petroleum Directorate (NPD). 

According to Reuters, the regulator’s Director General, Bente Nyland, said on Monday that  Statoil was expected to present the proposal for Castberg relatively soon, and that the regulator was worried by delays to several other fields on the Norwegian Continental Shelf, including Snorre 2040 and Trestakk.

The news agency quoted Nyland as saying: “A solution for Castberg is being worked on, so we expect a proposal on the table in not so long, but the ball is in the company’s court.”

Nyland also said the regulator was worried that the Snorre extension and the Trestakk development were not making enough progress.

To remind, in March 2015, Statoil decided to postpone the decision to continue the Johan Castberg project until the second half of 2016, with expectations for an investment decision in 2017. Statoil also in March postponed the Snorre 2040 project. “It is important that we find sound and robust development solutions for them,” Statoil said at the time.

Offshore Energy Today reached out to Statoil and the NPD seeking confirmation of these reports. Neither Statoil, nor NPD were immediately available for comment.

The Johan Castberg (former Skrugard) field is situated approx. 100 kilometres north of the Snøhvit-field in the Barents Sea, 150 km from Goliat field and nearly 240 km from Melkøya. The water depth at the site is 360-390 meters. Three oil discoveries, Skrugard, Havis and Drivis located in PL 532, form the resource base for the Johan Castberg field development project.

Offshore Energy Today Staff

[mappress mapid=”2809″]

Related news

List of related news articles