![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() by Daniel J. Graeber Stavanger, Norway (UPI) Nov 28, 2016
Consent is given to energy company Statoil to start drilling an appraisal well in the Johan Sverdrup oil field in the North Sea, the Norwegian government said. The Petroleum Safety Authority of Norway said it gave its approval for the drilling of an appraisal well. Drilling into the Johan Svedrup oil field is scheduled to start in December and should last 30 days. "The field is under development and production is planned to start in 2019," the safety regulator said. Developed over a series of phases, operator Statoil said the Johan Sverdrup oil field should account for up to 25 percent of total Norwegian petroleum production once at peak capacity. Statoil and its partners at Johan Sverdrup, Maersk Oil and Lundin Petroleum, in early 2014 outlined the development plan for the field using multiple phases. The field will be developed using four fixed facilities. By its latest estimate, Statoil said the project will be competitive so long as crude oil prices hold above the $30 per barrel mark. Brent crude oil sold for around $47 per barrel in early Monday trading. The Petroleum Safety Authority of Norway issued the preliminary results of an October audit of Statoil's procurement processes and the fabrication of parts of the infrastructure that will be used for production from the Johan Sverdrup field and found no issues. Norway is among the top suppliers of fossils fuels to the European economy. The National Petroleum Directorate said preliminary production estimates for oil, natural gas liquids and an ultra-light product called condensate was about 30 percent higher than the previous month. For oil, the 1.71 million barrels of oil produced per day on average was 4 percent above October 2015 and 10 percent more than the government expected. Final production figures for oil from September show an average 1.39 barrels of oil per day.
![]() ![]()
Related Links All About Oil and Gas News at OilGasDaily.com
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |