Page 14 - EurOil Week 27 2021

EurOil PROJECTS & COMPANIES EurOil

Equinor gets all-clear to start up Troll Phase 3

NORWAY NORWAY’S Equinor and its partners at the According to the NPD, the phase was
Troll Nord licence have secured the regulatory originally due to come on stream this spring
Troll is already by far all-clear to start up facilities and modifications as but its launch was postponed until autumn
Norway’s largest gas part of the Troll Phase 3 project in the North Sea, as a result of coronavirus (COVID-19)
producer. the Norwegian Petroleum Directorate (NPD) restrictions.
reported on July 2. The project will involve two subsea templates
The field is on track for launch in the autumn, hosting eight gas wells tied to the Troll A plat-
bringing extra supplies onto an overly tight gas form, where supplies will be compressed and
market in Europe. This should help suppress then exported via other existing infrastructure.
very bullish spot prices on the continent this Troll was first discovered in 1979 and yielded
year. its first commercial gas in 1995.
Troll is already by far Norway’s largest gas Norway produced 280.1mn cubic metres per
producer, accounting for 7% of European day of gas in May, the latest month for which data
demand. Equinor and its partners got their plan is available. This was 2.3% above the forecast and
of development and operation for Troll Phase 6% higher than in May 2020, but 10.5% below
3 approved in December 2018. The phase will the level in April. Liquids output came to 1.86mn
recover an extra 347bn cubic metres of gas over barrels per day (bpd), 2.9% above the forecast
its 30-year lifetime. Its development cost was but 8.6% below the level a year earlier and 6.8%
NOK8bn ($930mn). below the level in April. ™

OKEA awards Hasselmus contracts

NORWAY PRIVATE equity-backed Norwegian developer train.
OKEA has awarded contracts for its recently Aker Solutions will also start the work
Hasselmus will be a tie sanctioned Hasselmus gas discovery in the Nor- right away, with prefabrication taking place
back to the Draugen wegian Sea. in Egersund, engineering, procurement and
platform. OKEA, supported by international equity project management in Trondheim and Kris-
manager Seacrest Capital, took a final invest- tiansund and other services offshore. The work
ment decision (FID) on developing Hasselmus, should finish by the end of 2023.
a satellite of the company’s Draugen field, in OKEA, which produced 16,557 barrels of oil
June. It plans to exploit 1.65bn cubic metres of equivalent per day on the Norwegian Continen-
gas from the discovery using a single well tied tal Shelf (NCS) in the first quarter, expects Has-
back to the Draugen platform. selmus to flow over 4,400 boepd at full capacity.
OKEA has issued an engineering, procure- It estimates the breakeven point of its gas at
ment, construction and installation (EPCI) con- around $28 per barrel, or roughly $100 per 1,000
tract for Hasselmus’ subsea production systems cubic metres.
and pipelines to Subsea Integration Alliance, a When announcing the project’s FID last
partnership between Subsea 7 and OneSubsea. month, OKEA hailed it as its first field devel-
This works 9 km of pipe-in-pipe flowline and opment as an operator. It cited Norwegian fis-
associated structures. cal support as a factor behind the investment
Subsea 7 will kick off project management approval.
and engineering at its offices in Stavanger “The temporary tax measures adopted by
immediately, and undertake fabrication of the Parliament in June last year have ensured a
pipelines at its spool base in Vigra. Offshore timely development of Hasselmus during a
operations will take place in 2022 and 2023, the period of significant market volatility,” OKEA
contractor said on July 2. said.
OKEA has also given Aker Solutions an engi- Those tax measures allow operators to
neering, procurement, construction, installation deduct investments made in projects approved
and commissioning (EPCIC) contract for mod- by authorities before the end of 2023 from their
ifications at the Draugen platform in order to tax base.
process gas from Hasselmus. The scope includes Hasselmus is anticipated to cost NOK2.4bn
hook-up of a new riser, a new inlet arrangement ($290mn) to develop. OKEA operates the licence
with an electrical heater, a new inlet scrubber, a containing both the discovery and the Draugen
valve arrangement, revamp of gas export com- field with a 44.6% interest. Petoro has a further
pressors and modifications of the condensate 47.9% and Neptune Energy 7.6%. ™

P14 www. NEWSBASE .com Week 27 08•July•2021