Page 16 - EurOil Week 22 2021

EurOil NEWS IN BRIEF EurOil

the Hasselmus structure by A/S Norske Shell of OKEA to be able to announce that the
in 1999 which encountered a 16 meters gas Draugen licence has committed to developing Equinor, Aker BP secure
column and a 6.8 meters oil column in high- the Hasselmus gas discovery,’ said new CEO
quality sands at a depth of 1,700 meters. Svein J. Liknes. ’‘The project is important for drilling permits off Norway
OKEA ASA (44.56% WI) is the operator the long-term development of Draugen and
of the Draugen licence and the Hasselmus demonstrates our ability to deliver on organic Oil and gas companies Equinor and Aker
project. Partners are Petoro AS (47.88% WI) growth opportunities.’ BP have received drilling permits from the
and Neptune Energy Norge AS (7.56% WI). Norwegian Petroleum Directorate to drill
“Hasselmus will be the first tie-back to the wells in the Norwegian Sea and the Barents
Draugen production platform and will add in Norwegian oil firms raise Sea, respectively.
excess of 4,000 barrels of oil equivalents per Under the NPD permit announced Friday,
day to the production,” OKEA, the operator spending forecasts Aker BP will, using Odfjell Drilling’s Deepsea
of the platform, said Tuesday. This will also be Nordkapp semi-submersible drilling rig, drill
OKEA’s first field development as the operator, Oil and gas firms in Norway have increased two wells in the production license 858 in the
as the company, while now the operator of their 2021 and 2022 investment forecasts Barents Sea.
Draugen, bought the already developed field during the last three months as more projects The drilling programme, in a water depth
from Shell in 2018. are being developed, a national statistics office of 247 meters covers exploration well 7234/6-
The Hasselmus project is expected to (SSB) survey showed on June 1. 1 (Prospect: Stangnestind) and the appraisal
recover approximately 1.65 GSm3 (10.6 The biggest business sector in Norway now well 7234/6-1 A.
million barrels of oil equivalent) as fuel and expects to invest 181.9 billion Norwegian Aker BP operates the license and holds
export gas and will also make possible the crowns ($21.95 billion) this year, up from a a 40% stake. Its partners in the Barents Sea
restart of export of associated gas including forecast of 173.6 billion made in February, the block are Lukoil, Petoro, and Equinor.
NGL which is currently being injected into SSB said. The wells will be drilled about 165
the reservoir. “The upward adjustment for 2021 is driven kilometers south of the 7435/12-1 discovery
The development concept is a single subsea by higher estimates within the categories of well and about 455 kilometers northeast
well with a direct tie-back to the Draugen fields on stream and field development,” SSB of Hammerfest, the Norwegian Petroleum
platform. said in a statement. Directorate said Friday.
Production start-up is planned in Q4 2023 “Among other things, two new plans for Separately, the NPD on Friday granted
with plateau gas production of more than development and operation (PDO) have been a drilling permit to Equinor, to drill a well
4,400 barrels of oil equivalents per day gross. submitted,” it added. 6507/3-14 in the production license 159 B, in
The breakeven price for the Hasselmus The prediction for 2022 now stands at the Norwegian Sea.
project is estimated to around USD 28/boe. 142.8 billion crowns, indicating a potential The Norwegian oil firm will use Seadrill’s
The expected total investment cost for the decline compared to 2021. But the forecast West Hercules semi-submersible drilling rig
project is NOK 2.4 billion gross (USD $290,5 was up from 138.5 billion seen three months for the operation. The well will be drilled
million). ago and may continue to climb as companies about 15 kilometers west of the Norne field.
‘“The Hasselmus project is the first formalize next year’s budgets. Equinor is the operator of the license, with
field development project for OKEA as For the time being, the predicted decline in partners being DNO and Ineos. This will be
operator. Based on the single-well subsea investments in 2022 is expected to be driven the fifth well drilled in the offshore license
development solution with tie-back to the by a 10% drop in field developments, partly awarded in 2004.
Draugen platform it is also a financially robust offset by growing exploration activities, SSB According to the consent for the same
project’, said Knut Gjertsen, SVP Projects said. well previously granted by the Petroleum
and Technology in OKEA. “The temporary Oil industry investment levels impact the Safety Authority, the prospect’s name is Black
tax measures adopted by Parliament in June near-term growth of Norway’s economy as Vulture Appraisal
last year, have ensured a timely development infrastructure is being built, as well as the The well will be drilled in a water depth
of Hasselmus during a period of significant country’s longer-term output of petroleum. of 368 meters. Its main purpose is to detect
market volatility.” hydrocarbons in the Lange formations in the
‘I am very pleased on my first day as CEO Black Vulture prospect.

P16 www. NEWSBASE .com Week 22 03•June•2021