Statoil ASA (OSE: STL, NYSE: STO, 57%), as the operator and its partners Petoro AS (30%) and ExxonMobil E&P Norway (subsidiary of Exxon Mobil Corporation (NYSE: XOM), 13%) submitted Svalin field development plan to the Ministry of Petroleum and Energy in Norway on Friday. The development solution is a tie-back to Grane platform, which lies about six kilometres south-west at a depth of ~125 metres. The estimated investment is 4.5 billion NOK. Svalin M discovery will be producing through a well drilled from Grane platform while Svalin C will have a six-kilometre long subsea flowline connection. The estimated startup is in late 2013 – 2014 with the aim of daily aggregate production of 100 000 boe by 2014.
Svalin field, which was discovered originally in 1992 (Svalin C) with further discoveries in 2008 (Svalin M), (license PL 169) is located in Block 25/11 in the North Sea between Grane and Balder fields. It is estimated to contain 75 million boe (12 million standard cubic metres) in similar quantities in the two structures. Aker Subsea AS, the subsea group of Aker Solutions (OSE: AKSO) has been given the contract for subsea production system and pipeline where as marine operations are to be performed by Subsea 7 (OSE: SUBC).
Grane platform is a traditional fixed jacket with 40 well slots and has thus far been serving Grane oil field which has been producing since 2003 and has an estimated field life of 25 years with reserves up to 700 million boe. There will be some modifications to enable Grane platform to handle gas from Svalin. The Svalin development will mitigate the decline of oil and gas processed on the platform.
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