The FINANCIAL — Statoil commenced production of oil from the Morvin subsea field towards the Åsgard field in the Norwegian Sea Sunday, 1 August.
“The field is strategically important for further development and operation of activities in the Norwegian Sea,” says Ivar Aasheim, head of the Operations North cluster in Statoil. “Utilising existing infrastructure and installations was imperative for developing the field.”
Located 20 kilometres west of the Åsgard B platform on the Halten Bank, Morvin is a subsea development with two templates and four production wells.
The well stream is led through a 20-kilometre long pipeline to the Åsgard B platform for processing.
The field will be an important contributor in the effort of maintaining production on the Norwegian continental shelf (NCS) at the current level until 2020. The initial production rate will be close to 24,000 barrels of oil equivalent per day. Start-up of well number two is expected to boost production to 51,000 barrels of oil equivalent per day.
Morvin was discovered in 2001, with the plan for development and operation (PDO) being submitted in February 2008, and approval granted by the authorities after two months.
Facts about Morvin
Oil field located at a depth of 4,500 metres 20 kilometres west of the Åsgard B platform in the Norwegian Sea
The field development concept consists of two subsea templates and four production wells
Recoverable reserves are estimated at 70 million barrels of oil equivalent
The production period is estimated at around 15 years
The field will have a joint operations organisation with Åsgard
Development costs will total NOK 8.7 billion, at 2007 value
Licensees: Statoil (operator) (64%), Eni (30%) and Total (6%)
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