'Seismic Cables' Employed by Statoil to Boost Production

Norwegian oil major Statoil announced Thursday that it plans to use "seismic cables" on the seabed to help produce 30 million additional barrels of oil from its Snorre and Grane fields.

The company has signed contracts worth $160 million (NOK 900 million) with U.S. firm Geospace Technologies to deliver the cables, which will be part of a permanent reservoir monitoring (PRM) program. Statoil believes the technology will allow it to better understand the reservoirs because they are stable and able to provide a more accurate picture of the subsurface than cables that are towed on the surface and which are subjected to wind, waves and currents.

Statoil plans to lay more than 400 miles of seismic cables on the Snorre and Grane oil fields.

Øystein Michelsen, Statoil's executive vice president for production on the Norwegian shelf, commented in a company statement:

"Better seismic data are essential to the company's strategy for increased oil production. This is a very important project for Statoil.

"Statoil is a world leader within increased oil recovery. This technology is an important contribution to reaching our ambition of increasing the recovery rate for oil to 60 per cent from our fields on the Norwegian shelf."

Statoil currently recovers around 50 percent of the oil from its operated field on the Norwegian continental shelf.


Have a news tip? Share it with Rigzone!
Email news@rigzone.com


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.

Related Companies

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Malaysia's Icon Offshore Receives $12.... (Nov 25)
 -  Bowleven 'Pleased' with Moambe Flow Te... (Nov 25)
 -  BG: QCLNG Train 2 Commercial Operation... (Nov 25)
 -  Rosneft Posts YOY Income Decrease (Nov 25)
 -  Total to Raise $1.2 Billion of New Deb... (Nov 25)

Most Popular Articles

From the Career Center
Jobs that may interest you
Field Service Technician
Expertise: Field Service Tech
Location: Carrizo Springs, TX
Field Service Techician
Expertise: Field Service Tech
Location: Victoria, TX
Field Service Techician
Expertise: Field Service Tech
Location: Victoria, TX
search for more jobs

Brent Crude Oil : $46.12/BBL 0.63%
Light Crude Oil : $42.87/BBL 2.68%
Natural Gas : $2.2/MMBtu 0.45%
Updated in last 24 hours