Total Jump Starts $4.2B Hild Development
Total, operator of the Hild license, launches the development of this field located in the Norwegian North Sea. This development will represent an investment of US $4.2 billion (NOK 25.6 billion) and is subject to the approval of the Norwegian Ministry of Petroleum and Energy and Norwegian Parliament (Storting). Total holds a 51% interest together with its partners Petoro (30 %) and Statoil (19 %). Hild's reserves amount to approximately 190 million barrels of oil equivalent (boe). Production is expected to start end of 2016 and will reach 100,000 boe per day at peak.
"The Hild field development is an important milestone for Total in Norway, made possible thanks to significant technological progress. Innovation has opened up new opportunities for Total offshore Norway, where we will continue to invest annually an average of US $2 billion within the next five years. Norway will remain in the coming years as one of the largest contributors to Group production," said Patrice de Viviès, Senior Vice President Northern Europe, Exploration-Production.
The stand-alone development, in a water depth of 377 feet (115 meters), accesses separate gas/condensate and oil reservoirs. It includes the installation of an integrated wellhead, production and accommodation platform. Processed gas will be exported to St Fergus in the UK via a new link to the existing Frigg UK Pipeline (FUKA). Liquids will be sent to a dedicated storage vessel where water is separated for reinjection, and oil will be exported via shuttle tankers.
The Group strives to minimize its environmental footprint as part of its concern for sustainable development. Therefore Hild's power needs will be supplied from the Norwegian mainland electrical grid via a new 106-miles (170-kilometers) long cable, the world's longest alternating current (AC) power line from shore to an offshore platform. This technical solution is in line with the Norwegian authorities' longstanding objective to curb CO2 emissions from offshore activities. The cable will also incorporate fibre optic links allowing the offshore facilities to be monitored and controlled from Total's operation centre in Stavanger.
In Norway, as in all countries where Total is present, the Group is committed to the safety of the people working on its projects. Development of Hild project will be carried out in line with this key value.
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