Norwegian Field Gets New Life
Petroleum Safety Authority Norway (PSAN) revealed Monday that it has given Repsol consent to extend the life of the Rev field until April 2021.
“In order to recover the remaining resources in the Rev field, Repsol has applied for consent to extend the life of the field. We have granted consent to extend until 1 April 2021,” PSAN said in an organization statement posted on its website.
“Consent has been granted based on Repsol's documentation of assessments which conclude that the facility can continue to be operated responsibly and in compliance with regulatory requirements,” PSAN added.
The Rev field is located in the south of the Norwegian sector of the North Sea. Rev was discovered in 2001 and the plan for development and operation was approved in 2007. Production from the asset started in 2009.
A negative pressure development starting in 2012 resulted in cessation of production at the field in 2013, the Norwegianpetroleum.no website highlights. The website notes that it has, however, been possible to produce the wells on the Rev field periodically after pressure build-up. It was previously expected that cyclic production at the field would continue into 2019.
Norwegianpetroleum.no is jointly run by the Norwegian Ministry of Petroleum and Energy and the Norwegian Petroleum Directorate.
Repsol first arrived in Norway in 2003 to carry out exploration and production activity through its subsidiary Repsol Norge AS, which is headquartered in Stavanger. Repsol is currently producing 28,163 barrels of petroleum per day from the country, according to its website.
WHAT DO YOU THINK?
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.