SPIRIT ENERGY STARTS OIL PRODUCTION ON THE ODA FIELD

On 16 March, Spirit Energy started oil production on the Oda field, almost five months earlier than the original plan. The project has also come in under budget, with development costs reduced by around 15%.
The Oda field is Spirit Energy’s first development as operator on the Norwegian Continental Shelf. When the Plan for Development and Operation (PDO) for the field was submitted to the authorities in November 2016, production start was scheduled for 1 August 2019 and total investment costs were estimated at 5.4* billion kroner (£485 million).
The most recent calculations indicate that the project will be delivered at a price of around 4.6* billion kroner (£413 million) – an improvement of nearly 15%. Important reasons for the cost cuts include efficient drilling of production wells and a new type of cooperation with suppliers.
“Norway is a key region for our business and we have now reached production start for our first development project as operator on the Norwegian Shelf, without serious incidents. When we are also well ahead of schedule and well below budget, there is every reason to be proud,” says managing director Rune Martinsen in Spirit Energy Norway AS.
Spirit Energy discovered Oda in 2011 in the southern part of the Norwegian sector of the North Sea. The field is developed with a subsea template tied in to the Ula platform, 13 kilometres away.
The oil is exported to Ekofisk and then onward in Norpipe to the Teesside terminal in the UK. The gas from Oda is injected into the Ula reservoir to improve oil recovery from the Ula field.
The subsea connection between Oda and Ula is an innovative solution, with reuse of equipment on the Ula platform.
“Reuse is a smart approach in the oil industry. Oda would have been more expensive if we had not used equipment that was already offshore. Now, the economic case for the Oda field is strong,” says Martinsen
Oda’s recoverable reserves are estimated at about 33 million barrels of oil equivalent, of which 95 per cent is oil. Peak daily production is expected to reach nearly 35,000 barrels.
Spirit Energy Norway AS is the operator for Oda, with an ownership interest of 40%. The partners are Suncor Energy Norge (30%), Faroe Petroleum (15%) and Aker BP (15%).
Spirit Energy was created in 2017 following the combination of Centrica’s Exploration & Production business and Bayerngas Norge AS.

FRED.OLSEN WINDCARRIER WINS YUNLIN CONTRACT IN TAIWAN

March 20, 2019

Fred. Olsen Windcarrier has been awarded a contract with Siemens Gamesa Renewable Energy (SGRE) for the transport and installation of wind turbines...

Read More+
NEPTUNE ENERGY HIRES NEWBUILD BEACON ATLANTIC SEMI-SUBMERSIBLE

March 20, 2019

Neptune Energy Norge has awarded a rig contract for six wells to CIMC Offshore AS. The contract concerns hire of the Beacon Atlantic semi-submersible...

Read More+
UK NORTH SEA – AKER BP SUCCESSFULLY COMPLETES FROSKELAR WELL IN ALVHEIM AREA

March 20, 2019

Aker BP has successfully completed the Froskelar Main exploration well in licence 869 in the Alvheim area. The well has proved oil and gas. The gross...

Read More+
WILHEMSEN LAUNCHES FIRST COMMERCIAL DRONE DELIVERY TO VESSELS

March 19, 2019

Lifting off from Marina South Pier in Singapore with 3D printed consumables from Wilhelmsen’s onshore 3D printing micro-factory, the Airbus Skyways...

Read More+
PRODUCTION COMMENCES IN KANGEAN TSB GAS COMPLEX

March 18, 2019

JAPEX (Japan Petroleum Exploration) announced that Sirasun and Batur gas fields, which are part of the TSB gas complex in Kangean block in the Republic...

Read More+
UKOG HORSE HILL OILFIELD ACHIEVES 10,000 BARRELS MILESTONE

March 18, 2019

UKOG (UK Oil & Gas) announce that aggregate test production from the Portland reservoir at the Horse Hill oil field, in which the Company has a...

Read More+
EMERSON AND REPSOL FORM ALLIANCE ON CLOUD-BASED EXPLORATION AND SOFTWARE

March 18, 2019

Houston based Emerson and Spanish energy company Repsol, announced they have established a strategic alliance to deliver advanced subsurface geophysical...

Read More+
KITEGEN TO DEVELOP HIGH ALTITUDE WIND TECHNOLOGY WITH SAIPEM

March 18, 2019

Following the completion of extensive and intense technological research with an industrial perspective, KiteGen based in Torino, Italy, announced...

Read More+
MAY 1914 – TURNER VALLEY FIRST OIL BOOM OF WESTERN CANADA

March 17, 2019

If oil was found and commercially produced in Canada from half of the 19th century, Turner Valley became the site of Canada’s first oil boom in 1914....

Read More+
FARADAIR ANNOUNCES FIRST HYBRID ELECTRIC COMMERCIAL FLIGHT FROM 2025

March 16, 2019

British aerospace start-up Faradair, has revealed its intention to certify its revolutionary 18 seat, hybrid electric BEHA aircraft (Bio Electric Hybrid...

Read More+
MARCH 1967 – THE TORREY CANYON HITS THE SEVEN STONES REEF

March 16, 2019

The SS Torrey Canyon was built by Newport News Shipbuilding and Drydock Company in the United States in 1959. When laid down the tanker had a capacity...

Read More+
JOHAN SVERDRUP LIVING QUARTERS TOPSIDE TO SAIL AWAY FROM KVAERNER YARD

March 16, 2019

With 560 beds the Johan Sverdrup living quarters topside is the largest of its kind in Norway. The fourth and last platform for the first phase of...

Read More+