Fabrication contracts for giant new Statoil platform due in Autumn 2014

statoil logoStatoil  has revealed its development plan for the giant Norwegian field John Sverdup, with fabrication contracts expected to hit the market this autumn.

The concept for development will involve a four-platform field centre powered from shore with investment in the first phase estimated at up to Nkr120 billion ($19.6 billion).

The pre-unitisation operator and its partners are also targeting a much higher plateau rate of production than previously estimated at between 550,000 and 650,000 barrels of oil equivalent per day, with an ultimate recovery rate projected at 70% for the field’s resources of between 1.8 billion and 2.9 billion barrels of oil equivalent.

 Aker Solutions has kicked off front-end engineering and design work on the field, having recently won the coveted FEED award, with tenders for fabrication contracts reportedly likely to hit the market this autumn.

The field, to be developed in multiple phases, will have initial design capacity of 315,000 boepd but output in the first phase is expected to hit as much as 380,000 boepd, with pre-drilling of wells to be carried out to facilitate rapid ramp-up.

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