South Arne Phase 3 development project approved
2010.11.28 -
Field Development
The South Arne Phase 3 project includes drilling, completion and stimulation of 11 new production wells, which will be produced via two new wellhead platforms to be connected to the existing South Arne production platform. Noreco's share of capital expenditures is estimated to approximately NOK 450 million spread over the next six years.
South Arne is located in the Danish sector of the North Sea, and has been producing since 1999. Current production is approximately 25,000 barrels of oil equivalents per day. Production from the Phase 3 expansion is expected to commence towards the end of 2012 and will significantly increase the overall recovery of reserves from the field.
The necessary approval from the Danish Energy Agency was received in October.
Noreco has a 6.6 % interest in the South Arne field, which is situated in license 07/89. The field is operated by Hess Corporation (57.5 %). Other partners are DONG Energy (34.4 %) and Danoil (1.5 %).
PA Resources AB has signed an agreement with the shareholders to acquire the entire share capital of the British oil exploration company Scotsdale Ltd. The company is focusing on low risk exploration in North West Europe. The acquisition means that PA Resources increases its presence in the North Sea with licenses in the United Kingdom and Denmark, and potentially also in the Netherlands.
Aker Exploration has entered into agreements with the international oil company Eni Norge to acquire ownership interests in two licenses in the vicinity of the Åsgard field. The agreements further strengthen Aker Exploration’s position in the Norwegian Sea.
SCAN Geophysical ASA (SCAN) today announced that the company is
remobilising its seismic vessel, M/V Geo Searcher, to re-commence a previously-suspended
2D project offshore Pakistan for BP.
The Norwegian Petroleum Directorate (NPD) has granted ENI Norge AS a drilling permit for wellbore 34/12-1 in the North Sea.
Eni has successfully drilled the last appraisal well, encountered approximately 127 metres (419 ft) of net pay in multiple sands. The initial analysis indicates good reservoir quality.
