Offshore staff
STAVANGER, Norway — Equinor and Halten East partners Vår Energi, Spirit Energy and Petoro have decided to invest about NOK 9 billion (US$935.1 million) in the development of the area neighboring to the Åsgard Field in the Norwegian Sea, according to a recent Equinor news release.
The area consists of six gas and condensate discoveries and option on another three prospects. The partnership submitted the plan for development and operation to the Ministry of Petroleum and Energy on May 25.
Halten East is a collective name for several small-size discoveries and prospects. Finding economically viable development alternatives for each individual project was difficult. In 2020 the licensees in the four licenses agreed to develop the area as a unit.
Recoverable reserves in Halten East are estimated at almost 16 million standard cubic meters of oil equivalent, or about 100 MMboe, 60% of which is gas piped via Kårstø to Europe.
The project is planned to be executed in two phases:
- Phase 1 of the development will entail six wells to be drilled in 2024-2025; and
- Phase 2 is planned to be developed in 2029.
Production start from the two first wells is scheduled for 2025. Subsequently, the wells will be put onstream as they are completed.
Partners include Equinor Energy AS (57.7% - operator), Petoro AS (5.9%), Vår Energi AS (24.6%) and Spirit Energy AS (11.8 %).
Contracts and letter of intent
- Technip FMC: A contract for the installation of pipelines and subsea structures – value NOK 1.3-1.5 billion
- Aker Solutions: Subsea production system contract – value NOK 1.3-1.5 billion
- Aker Solutions: Letter of intent for an umbilical – value NOK 300-400 million
In addition, contracts have been awarded for drilling, drilling services, specialist services and modifications to the Åsgard B platform module at an estimated value of NOK 3.6 billion.
The contracts are subject to government approval of the plan for development and operation.
05.25.2022
