Statoil Submits Delta-2 Plan

Statoil announced Thursday that it has submitted its plan for the development and operation of the Delta-2 field in the Norwegian North Sea.

Statoil said that its senior vice president for field development on the Norwegian Continental Shelf, Ivar Aasheim, handed over the plan to Norwegian Petroleum and Energy Minister Ola Borten Moe Thursday. The firm added that the development forms part of its fast-track portfolio, in which a modular approach to facilities is exploited along with existing infrastructure.

"Delta 2 marks an important new step for Statoil and our fast-track development strategy. The fast-track projects will considerably boost Statoil's equity production and will produce 100,000 barrels of oil equivalent daily by the end of 2014," Aasheim said in a company statement.

The recoverable reserves on Delta 2 are estimated at 77 million barrels of oil equivalent and peak production will amount to 18,000 boepd, Statoil said. Investment costs are estimated at $1.25 billion (NOK 7.4 billion), and the development is scheduled to come on stream by the end of 2014.



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