Statoil submits development plan for Delta 2 field in North Sea

5/31/2013

Statoil submits development plan for Delta 2 field in North Sea

By Dominic Chopping

STAVANGER -- Statoil said that together with its partners it has submitted its plan for the development and operation (PDO) of the Delta 2 field in the North Sea.

This development forms part of Statoil's fast track portfolio, whereby existing infrastructure is used to recover resources from smaller fields, cutting the time and cost of production.

The fast track projects will considerably boost Statoil's equity production and will produce 100 Mboepd by the end of 2014 says Senior Vice President for field development on the Norwegian continental shelf, Ivar Aasheim.

The recoverable reserves on Delta 2 are estimated at 77 MMboe and peak production will amount to 18 Mboepd.

Investment costs are estimated at $1.27 billion, and the development is scheduled to come on stream by the end of 2014.

Dow Jones Newswires

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