Statoil to Deploy New Technology at Asgard



Statoil plans to use seabed compression in order to produce more gas from the Asgard field in the Norwegian Sea. According to the company, this is the first use of the technology for commercial purposes.

Boosting the pressure in the gas flow the seabed compressor will compensate for dropping pressure in the reservoir. Gas production from Asgard is expected to increase by 25%--approximately 30 to 40 billion cubic meters--when this technology is employed. Installation of the compressor on the seabed is scheduled for 2012-2013. Qualification of the seabed technology will take place toward 2012.

“This means that the business potential on the Mikkel and Midgard deposits at Asgard will be better exploited,” said Knut Nordstad, senior adviser at Statoil’s research center in Trondheim, where the technology was developed. “The technology should make us better prepared for more demanding projects in the future. Gas compression may be relevant both for the Troll field in the North Sea and Snøhvit in the Barents Sea.”

Seabed processing is particularly relevant in Artic waters. If Statoil becomes a partner on the Shtokman field in the Russian part of the Barents Sea, experience associated with new seabed technology will be useful.

Statoil and the other partners in the Asgard license invest slightly more than NOK4 billion (US$628.5 million) in the project.

The installation will be located in 250 meters of water some 50 kilometers from the Asgard B platform. In connection with seabed processing, tasks such as pumping, separation, compression, and filtering are performed on the seabed rather than on the platform. The technology will contribute to great cost savings and secure production until 2021.

Statoil is operator for Asgard, (25% interest). The other licensees are Petoro (35.5%), Hydro (9.6%), Eni (14.9%), Total (7.65%), and Mobil (7.35%).

RELATED COMPANIES
Company: Exxon Mobil Corporation more info
Operates 16 Offshore Rigs
 - Exxon, Petrobras Form Alliance To Develop Oil, Gas Projects (Dec 14)
 - ExxonMobil to Lead Construction, Ops of Mozambique LNG Facilities (Dec 13)
 - ExxonMobil Jumping in to Mexico Fuel Market With First US Cargo (Dec 06)
Company: Norsk Hydro ASA more info
Operates 1 Offshore Rigs
 - Sentry Petroleum Appoints Former Norsk Hydro Analyst to Board of Directors (Dec 29)
 - Hydro Under Investigation for Former Libya Oil Operations (Oct 07)
 - SeaBird First Contract Award for SeaBed Operations (Apr 28)
Company: Statoil more info
Operates 1 Offshore Rigs
 - Sharp Fall In Applications For Norway's Arctic Oil Permits (Dec 05)
 - Statoil Greenlights $6B Flagship Arctic Oil Project (Dec 05)
 - Partners to Invest in New Gas Module at Troll C Platform (Nov 07)
Company: Total S.A. more info
 - Total Starts Up Antwerp Refinery And Petrochem Complex After Upgrade (Nov 30)
 - Hoegh LNG: Pakistan LNG Import Project Consortium Folds (Nov 16)
 - France's Total Buys Engie's LNG Business For $1.5B (Nov 08)
Company: ENI more info
Operates 11 Offshore Rigs
 - Italy Prosecutors Probe Eni For Tax Evasion At Refineries (Nov 22)
 - Officials: BP, Eni Interested In Developing Iraq's Majnoon Oilfield (Nov 20)
 - Eni's Giant Gas Field Prompts Egypt to End Imports in 2018 (Nov 15)
Company: Petoro more info
 - Aker Solutions Secures Johan Sverdrup Phase 2 FEED Contract (Mar 21)
 - NPD Grants Consent for the Expansion of Nyhamna Gas Plant (Feb 10)
 - Statoil Granted North Sea Drilling Permit by NPD (Dec 21)
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.