Statoil and its partners have decided to develop the Rutil discovery located in the Gullfaks Rimfaks valley in the North Sea, the company said in a news release.
Providing close to 80 MMboe, the development will extend the lifetime of the Gullfaks A platform. The plan for development and operation (PDO) was submitted to the authorities Dec. 16, Statoil said in the release.
Gas and condensate will be transported in existing pipeline for processing in the gas processing facility at Kårstø north of Stavanger. The processed gas is transported to markets on the European continent, the release said.
The investment costs of the Gullfaks Rimfaks valley development are estimated at NOK 4.6 billion (US $617 million).
The development will consist of a standard subsea template with two simple gas production wells and possibilities of connecting two more wells. The well stream will be connected to the existing pipeline to the Gullfaks A platform, according to the release.
The Gullfaks Rimfaks valley is one of Statoil’s fast-track projects, aiming at realizing resources quickly and cost-efficiently by for example using existing infrastructure while it is still available. Production start is scheduled for first-quarter 2017.
Licenses partners are Statoil, operator, with 51% interest; Petoro, 30% interest and OMV, 19% interest.
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