STAVANGER, Norway -- Statoil has submitted its third fasttrack development plan this year to Norway’s Ministry of Petroleum and Energy. Costs for the Katla project in the North Sea are estimated at NOK 5.4 billion ($1 billion), with start-up due early in 2013.
Previous fasttrack PDOs were issued for Visund South and Vigdis North-East, also in the North Sea.
Katla, discovered in March 2009, has recoverable reserves of around 45 MMboe. Statoil plans to install a seabed template and drill four wells, two of which will produce oil and gas. The other two will inject water into the reservoir for pressure support.
Oil will be sent to the Oseberg South platform, 13 km (8 mi) to the northeast. The gas will be used as pressure support on Oseberg Omega North, helping to maintain production from this reservoir
Statoil is operator of Katla with a 49.3% interest, in partnership with (SDFI) 33.6%, Total 10%, ExxonMobil 4.7%, and ConocoPhillips 2.4%.
Statoil outlines plan for Katla