Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

'Seismic Cables' Employed by Statoil to Boost Production

change text size

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

WHAT DO YOU THINK?

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

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  President Takes 100% Ownership of Pues... (Jul 30)
 -  IWCF Launches Online Well Life Cycle C... (Jul 30)
 -  Statoil Installs Valemon Topsides (Jul 29)
 -  Petrofac Wins Shah Deniz 2 Project Wor... (Jul 29)
 -  Saipem Wins $850M of Drilling Contract... (Jul 29)
Most Popular Articles
From the Career Center
Jobs that may interest you
Fishing Tool Supervisor
Expertise: Fishing
Location: Lindsay, OK
 
Senior Consultant
Expertise: Geoscientist
Location: Houston, TX
 
Industrial Engineer
Expertise: Mud Engineer / Drilling Fluids, Petroleum Engineering
Location: Houston, TX
 
search for more jobs