Offshore staff
STOCKHOLM, Sweden – Lundin Energy has produced first oil from the Solveig field subsea tieback to the Edvard Grieg platform in the Norwegian North Sea.
Solveig is in license PL359, 15 km (9.3 mi) south of the Edvard Grieg field. Under the Phase 1 development, five wells will be connected to the platform to recover 57 MMboe, with peak production of 30,000 boe/d.
This should also extend Grieg’s plateau production period, currently set to continue until the end of 2023.
First oil was achieved on time, in line with the budget estimate of $810 million, and with a breakeven oil price of less than $20/boe.
Results from drilling to date (two wells have been completed) have been above expectations, Lundin added.
There are further discovered resources in the area, such as Segment D, and depending on results from Phase 1 drilling data and production performance, Lundin could submit a plan for development and operation for Phase 2 development by the end of next year.
Solveig’s total gross potential, including upside, is up to 100 MMboe.
10/01/2021
