Statoil and its partners have started production on the Byrding field as planned. Recoverable volumes in Byrding are estimated at a good 11 million barrels of oil equivalent.
Byrding is an oil and gas field north of the Troll field in the North Sea.
The partners have invested around NOK one billion in Byrding, which is a reduction from the original estimate of around NOK 3.5 billion.
“Good utilisation of existing infrastructure has resulted in a cost-effective development that will add profitable resources to the Troll field,” says Gunnar Nakken, senior vice president for the operations west cluster in Statoil.
Statoil increased its share in Byrding from 45% to 70% when the company acquired Wintershall Norge’s share of 25% in October 2016.
About the Byrding field
Licensees in Byrding are Statoil Petroleum AS (70%, operator), Engie E&P Norge AS (15%) and Idemitsu Petroleum Norge AS (15%).
The Byrding development includes a two-branch multilateral well drilled from the existing Fram H-Nord subsea template, through which oil and gas are flowing to Troll C.
The multilateral well is around seven kilometres long and is split in two branches after a few kilometres.
After processing on Troll C, the oil is routed in existing pipelines to Mongstad and the gas via Troll A to Kollsnes.
About Statoil
Statoil ASA (OSE: STL, NYSE: STO) is an international energy company with operations in more than 30 countries, present in several of the most important oil and gas provinces in the world.
Building on more than 45 years of experience from oil and gas production on the Norwegian continental shelf, we are committed to accommodating the world's energy needs in a responsible manner, applying technology and creating innovative business solutions.
Statoil is among the world's largest net sellers of crude oil and condensate, the second-largest supplier of natural gas to the European market, and we also have substantial processing and refining operations. Statoil’s equity oil and gas production is around 2 million barrels oil equivalent per day. Statoil has contracted a fleet of around 90 ship for transportation of oil and LNG.
Statoil is headquartered in Norway with 21,000 employees worldwide, and is listed on the New York and Oslo stock exchanges.