Snorre expansion project, Norway
Name of the Project
Snorre expansion project.
Location
The project is located on the Norwegian Continental Shelf (NCS).
Client
Partners in the Snorre field are Statoil Petroleum (33.27%), Petoro (30%), ExxonMobil Exploration and Production Norway (17.44%), Idemitsu Petroleum Norge (9.6%), DEA Norge (8.57%) and Point Resources (1.1%).
Project Description
The Snorre expansion is the largest improved oil recovery project on the NCS.
The project will increase recovery from the Snorre field by close to 200-million barrels.
The plan for development and operation involves a comprehensive subsea development, upgrading of the Snorre A installation, increased gas injection and gas import for injection.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
Not stated.
Value
The project is estimated at more than NKr19-billion.
Duration
The project is expected to start production in 2021.
Latest Developments
None stated.
Key Contracts and Suppliers
TechnipFMC (subsea production system), Subsea 7 (fabrication and installation of the pipeline bundle system), Aibel (modification work on Snorre A) and Transocean (rig).
On Budget and on Time?
Too early to state.
Contact Details for Project Information
Statoil investor relations tel +47 51990000 or email irpost@statoil.com.
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