Repsol Moves Forward with Yme Project
Repsol, the operator of the Yme field, is moving forward with the project development with the Caisson Permanent Support structure installation at the field, located in the PL 316/316B on the Norwegian Continental Shelf.
The structure is supporting the wellhead caisson to the existing subsea storage tank, OKEA, a partner in the development noted.
The purpose of the CPS is to secure enough structural support for the wellhead caisson connected to the existing subsea storage tank.
“With this important milestone achieved the Yme New Development project is on schedule for first oil in 1H 2020,” OKEA said.
Repsol presented the new development plan in 2017 to reactivate production in the Yme, which had been abandoned since 2001. An estimated 65 million barrels of oil are estimated to be recovered within the next ten years.
Repsol holds 55% stake in Yme, along with Lotos Exploration and Production Norge with 20%, OKEA with 15% and KUFPEC Norway with 10% interest.
First oil from Yme is planned for the first half of 2020.