Norway's Statoil announced late Monday that it has begun building the country's biggest research center for improving oil recovery.
Statoil declared at the end of August that it was targeting a 60-percent average oil recovery rate from its fields on the Norwegian Continental Shelf soon after the Norwegian Petroleum Directorates awarded the company a prize for improved oil recovery. Statoil is already a world leader in oil recovery with an average recovery rate of 50 percent – compared with a global average recovery rate of just 35 percent.
The new center is located next to the company's existing research center at Rotvoll in Trondheim, in the north of Norway, and Statoil plans to use it to support the company in providing new technology and new methods to help maximize production on fields where Statoil is either operator or partner, both on the Norwegian Continental Shelf and internationally.
There will be four floors that will prioritize areas of technology such as drilling, reservoir mapping and advanced injection techniques.
The center will cost around $42 million (NOK 240 million) and is due to be completed by the end of 2013.
"Almost half of our R&D budget of NOK 2.8 billion [$490 million] is earmarked for testing and developing the technology that enables increased recovery. The challenge is to be able to understand which technologies are most efficient and why the different technologies perform as they do. This centre will enable us to simulate what happens in the reservoirs, providing us with unique knowledge about the technologies that function best," said Statoil head of research Karl Johnny Hersvik in a statement.
WHAT DO YOU THINK?
Click on the button below to add 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.
More from this Author
Most Popular Articles
From the Career Center
Jobs that may interest you