Statoil Considers $6B Plan for Luva Development

Statoil is considering investing close to $6 billion on the development of its' Luva field in the Norwegian Sea using a floating production unit, the company said in a news release earlier this month.

The field will be developed with a floating production unit with condensate storage and unloading capacities. The unit also will include living quarters, hull, process area, usage and risers.

Preliminary drilling concept involves drilling seven subsea production wells. The development of the Luva field also includes subsea equipment and and pipelines.

Luva, located in Production License 218, is a gas field in the southeastern Norwegian Sea about 140 km north of Norne and approximately 300 km west of Bodø. The field includes blocks 6706/12 and 6707/12, and will likely be developed alongside the Snefrid South and Haklang discoveries.

Luva's total recoverable reserves is estimated at about 47 GSm3 gas and 0.8 GSm3 condensate.

Production start is schedule for 2016 with an estimated production period of eight years.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Fluids Plant Operator
Expertise: Maintenance Technician|Mud Engineer / Drilling Fluids|Refinery / Plant Operator
Location: Monahans, TX
Nitrogen Transport Driver
Expertise: Heavy Machinery Operator|Truck / HGV Driver
Location: Dayton, OH
Nitrogen Operator
Expertise: Maintenance Technician|Production Operator|Truck / HGV Driver
Location: Odessa, TX
search for more jobs

Brent Crude Oil : $56.43/BBL 0.40%
Light Crude Oil : $50.55/BBL 0.27%
Natural Gas : $2.95/MMBtu 5.44%
Updated in last 24 hours