Gulf Oil and Gas accountACCOUNT

ENI to Start Producing from Arctic Oilfield off Norway

Source: Reuters 8/19/2015, Location: Europe

Share |
Italian energy group ENI plans to start oil production from Norway's first Arctic oil development in a few weeks after years of delays and cost overruns.

Production from the Goliat field, estimated to hold about 174 million barrels of oil, was originally expected to start in 2013, and the latest deadline was the end of this summer.

"We had some delays due to bad weather, but we are planning to start the production in a few weeks," said Andreas Wulff, the spokesman for ENI in Norway.

When the field comes on stream, it would become the world's northernmost producing offshore oilfield, ENI has said.

The oil will be stored on a floating production platform and offloaded to shuttle tankers for exports, while the associated gas will be reinjected.

Production from the field, some 50 km southeast of the Snoehvit field, which delivers gas to Europe's only liquefied natural gas (LNG) plant at Hammerfest, is expected to peak at some 34 million barrels of oil per year during the second year of production, the company said.

The project costs surged to 46.7 billion crowns ($5.62 billion) from an original estimate of around 30 billion crowns in 2009, when the development plan was approved, but some other developments offshore Norway saw cost overruns as well.

Operator ENI has a 65 percent stake in the field, while its partner Statoil holds the remaining 35 percent. ($1 = 8.3116 Norwegian crowns)

Production News in Norway >>

United States >>  10/18/2018 - BP has started up the Thunder Horse Northwest Expansion project in the deepwater Gulf of Mexico, four months ahead of schedule and 15 percent under bu...
Azerbaijan >>  10/17/2018 - Following the growth in production, over 3 billion cubic meters of gas have been supplied to gas storage facilities. ...

Norway >>  10/15/2018 - On 14 October the Oseberg Vestflanken 2 field in the North Sea came on stream. Remote-operated from the Oseberg field centre, the new Oseberg H platfo...
United States >>  10/10/2018 - Murphy Oil Corporation (MUR) announced that its wholly owned subsidiary, Murphy Exploration & Production Company - USA, has entered into a definitive ...

Iraq >>  10/9/2018 - Genel Energy plc notes that DNO ASA, as operator of the Tawke PSC (Genel 25% working interest), has issued an update on licence activity: ...
Brazil >>  10/5/2018 - Dommo Energia S.A., announces to its shareholders and the general market that the oil production from the Atlanta Field reached a total of 1,185.1 tho...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Norway Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 |

More News

 

Oil & Gas Companies in Norway >>


Related Links

Gulf Oil and Gas
Copyright Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.