Authorities Approve Trestakk PDO

Norwegian authorities have approved the Plan for Development and Operation (PDO) of the Trestakk discovery on the Halten Bank in the Norwegian Sea.

Investments are calculated at $639 million (NOK 5.5 billion), almost half of the original estimate, according to Statoil.

Trestakk was discovered in 1986, and expected recoverable volumes are 76 million barrels of oil equivalent. Tied into the Åsgard A production vessel, Trestakk is expected to come on stream in 2019.

“This is a good example of what we are able to achieve in collaboration with our license partners and suppliers by innovative thinking, and spending enough time on maturing the best concept choice,” Torger Rød, head of project development at Statoil, said in a company statement.

“Trestakk is an important contribution in maintaining activities on the Norwegian continental shelf,” he added.

The first estimates for developing Trestakk were around NOK 10 billion. At the time of concept choice in January 2016, the costs had been reduced to NOK 7 billion. 



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

WHAT DO YOU THINK?

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.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  ExxonMobil Starts Fuels Production at ... (Sep 21)
 -  How to Become a Safety Engineer (Sep 18)
 -  How to Become a Geologist (Sep 15)
 -  Oil, Gas Industry Leadership Group to ... (Sep 14)
 -  CB&I Wins China PDH Unit Contract (Sep 11)


Most Popular Articles

From the Career Center
Jobs that may interest you
Senior Compliance Specialist
Expertise: Regulatory Compliance
Location: Kennesaw, GA
 
Completions Supervisor
Expertise: Drilling Foreman / Drilling Supervisor|Production Engineering|Workover or Completion
Location: Watkins, CO
 
Procurement / Subcontracts Administrator
Expertise: Contracts Administration
Location: Cincinnati, OH
 
search for more jobs

Brent Crude Oil : $59.02/BBL 3.79%
Light Crude Oil : $52.22/BBL 3.07%
Natural Gas : $2.92/MMBtu 1.31%
Updated in last 24 hours