Offshore staff<\/p>\n
OSLO, Norway Total remaining recoverable resources across the Norwegian continental shelf are around 8.3 bcmoe, according to the latest estimate by the Norwegian Petroleum Directorate (NPD).<\/p>\n
Roughly half the total is thought to lie in proven fields and discoveries.<\/p>\n
At the end of last year, there were 85 discoveries with no submitted plan for development and operation. These hold total reserves of 660 MMcmoe. The NPD estimates that NOK400 billion ($44 billion) would be needed for all these fields to be developed. By end-August 2019, 85 fields were in production on the NCS.<\/p>\n
In 2018, wells accounted for half the investment on active fields, and in recent years, efficiency measures have cut average production well costs by more than 40%, the NPDs report said.<\/p>\n
At the same time, operating costs on most fields have been falling, and increased take-up of automation and remote operation, improved use of data and more efficient operation, could further reduce costs and help raise production further, the report claimed.<\/p>\n
The NPD has also mapped volumes in place for tight reservoirs in 42 discoveries and fields. Analysis suggests total volumes of 2,000 MMcmoe. Achieving profitable production from tight reservoirs means developing cost-effective solutions that increase reservoir exposure in the wells so that the oil and gas can flow more easily.<\/p>\n
However, production from tight reservoirs may only be profitable via a tieback to existing infrastructure, and due to the long production horizon, companies need to work on development before the infrastructure reaches its tail-end phase.<\/p>\n
The NPD has updated its study of the potential offered by using advanced methods for enhanced oil recovery (EOR), to cover more fields and discoveries. It now estimates a total recovery potential of about 350 MMcmoe.<\/p>\n
However, there is a need for licensees to test EOR methods through field pilots, it adds. The biggest increase in total reserves has come at the Equinor-operated Troll field in the North Sea.<\/p>\n
Oil improvements are down to implementation of new drilling and well technology which have led to higher recovery per well. Another factor has been the drilling strategy, with several rigs deployed or many years on the field.<\/p>\n
Gas reserves too have risen following the go-ahead for the Troll Phase 3 project for increased gas offtake.<\/p>\n
09\/30\/2019<\/p>\n
<\/p>\n
Read the original here:<\/p>\n
Efficiency measures having positive impact on Norway's offshore oil and gas fields, Norwegian Petroleum Directorate report finds - Offshore Oil and...<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Offshore staff OSLO, Norway Total remaining recoverable resources across the Norwegian continental shelf are around 8.3 bcmoe, according to the latest estimate by the Norwegian Petroleum Directorate (NPD). Roughly half the total is thought to lie in proven fields and discoveries Continue reading