STATOIL INVESTS IN ASKELADD IN THE BARENTS SEA

March 13, 2018

Statoil and its partners have decided to invest just over NOK 5 billion in the development of Askeladd, the part two of the multi-phased Snøhvit development in the Barents Sea.
The Askeladd development will supply 21 billion cubic metres of gas and two million cubic metres of condensate to Hammerfest LNG, and production is scheduled to come on stream towards the end of 2020.
“This is the next step in the development of Snøhvit. Askeladd will help maintain a plateau production rate at the Hammerfest LNG plant until 2023 and is a profitable investment that will help secure jobs and ripple effects in the region,” says Torger Rød, Statoil’s senior vice president for project development.
But the perspective for Snøhvit and Hammerfest LNG is much longer: “The Snøhvit licence contains enough gas to maintain production beyond 2050, and Hammerfest LNG will provide jobs for many years to come,” says Per Henry Gonsholt, acting production director at Hammerfest LNG. More than 400 people are currently working at the plant.
Askeladd will be developed with three wells via two new subsea templates with space for additional wells in the future. In addition, an infrastructure will be installed to tie-in the Askeladd development to existing Snøhvit field infrastructure.
Hammerfest LNG is a highly efficient LNG plant due to the re-injection of the reclaimed CO2 and the combined heat and power cycle used to supply the energy needs at Melkøya.
The Askeladd development will contribute to increased activity at the Polar Base in the project period, and Aker Solutions has been awarded the contract for the two subsea templates. (Source and image: Statoil – Melkoya facility/Jorgen Bratland/Statoil)