Norwegian authorities have approved the Plan for Development and Operation (PDO) of the Trestakk discovery on the Halten Bank in the Norwegian Sea. Investments are calculated at NOK 5.5 billion, almost half of the original estimate.
Trestakk was discovered in 1986, and expected recoverable volumes are 76 million barrels of oil equivalent, mainly oil. Tied into the Asgard A production vessel, Trestakk is expected to come on stream in 2019. On behalf of the licence owners, Statoil submitted the PDO to the minister of petroleum and energy, on 1 November 2016. The costs of developing the Trestakk discovery have been reduced by nearly 50 percent since project start-up. “The Trestakk volumes are an important contributor in maintaining profitable operation of the Åsgard A vessel up to 2030. It also enables us to extract more of the original Asgard field volumes,” says Siri Espedal Kindem, head of the operations north cluster in Statoil. Cost reductions have been achieved by a novel approach to concept choice, simplification and optimized scope, in addition to benefitting from ongoing efficiency measures.

The field development comprises of a subsea template and a tied-in satellite well. Three production wells and two gas injection wells will be drilled. Trestakk is located approximately 20km south of the Asgard field in a water depth of 300 meters. (Source and image: Statoil)