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VNG Norge Submits Fenja Development Plan

Published in Oil Industry News on Friday, 16 June 2017


Graphic for News Item: VNG Norge Submits Fenja Development Plan

VNG Norge estimates its development plan for the Fenja field to cost US$1.3 billion (NOK$11.5 billion), the company said in a 15 June impact assessment of the project.

Formerly known as the Pil and Bue discoveries, Fenja is located on PL 586 in the Norwegian Sea. Pil has been estimated to contain 7.5-14.9 MMcum of recoverable oil and condensate, and 3.7-5.9 Bcm of recoverable gas. Estimated resources for Bue are 1.5-2.6 MMcum of recoverable oil equivalent.

The company reported in February it expects to make a final investment decision for the project by year-end 2017. Last year, VNG Norge said it would develop Pil and Bue via a subsea tieback to Njord A.

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In the assessment, VNG Norge and partners recommend sequential development of the Fenja field, where Pil is first developed with two seabed frames that include three manufacturers, two water injectors and a gas injector. Bue represents a possible upside and will be confirmed through drilling of production wells on Pil. If drilling is successful, Bue will be phased in with a manufacturer and a water injector in 2024 using free slots on one bottom frame, the company said in the assessment.

After processing at Njord A, the oil from the Fenja field will be transferred to Nord B for storage before being transported to market via shuttle tankers. Rich Fenja gas will initially be reinjected in the Pil reservoir. At a later date, the gas will be exported via Njord gas export pipeline to the Åsgard Transport system.

Production from Fenja is scheduled to begin in 2020. VNG Norge oil production will peak in 2023, with a daily output of approximately 6700 cu m/d, then decline towards the end of production in 2036. Maximum gas production is expected in the years 2025-2036, with a daily output of about 2.9 MMcum/d.

VNG Norge and partners considered a number of development solutions, including subsea development related to the Draugen field, before deciding on a subsea tieback to Njord A. The Fenja, Hyme, and Bauge 1 fields will be tied back to the Njord A platform once Statoil returns the platform to the Njord field following modification work to extend the platform’s life to 2040.

Total revenue from the Fenja field from production start in 2021 to 2036 is estimated at $4.9 billion (NOK 42.5 billion) at constant 2016 prices.

VNG Norge is an operator with a license share of 30%. Partners are Point Resources (45%) and Faroe Petroleum Norge (25%). On behalf of its partners, VNG Norge prepared the impact assessment for submission to and review by Norway’s Ministry of Petroleum and Energy.

Earlier this year, the companies awarded Subsea 7, TechnipFMC, and Aker Solutions, front-end engineering and design (FEED) contracts for the project.

Source: www.oedigital.com

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Tags

North Sea Oil and Gas, Norwegian Oil and Gas, Aberdeen Oil and Gas, FEED Oil and Gas, VNG Norge Oil and Gas, Oil and Gas News








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