STAVANGER, Norway – Norway’s Ministry of Petroleum and Energy has approved Statoil’s $831-million development program for the Hyme field in the Norwegian Sea. First oil is due early in 2013.
Hyme was the fourth fasttrack development Statoil had submitted to the Ministry for scrutiny this year, following Visund South, Vigdis Northeast, and Katla.
Approval took just six weeks, and coincided with the publication of the main elements of the government’s new petroleum report. One of the areas mentioned is the need to hasten decision-making for sanctioning developments.
“The approval of Hyme in record time shows that fasttrack developments now are accepted as an important approach to infrastructure-led discoveries on the Norwegian continental shelf,” said Ivar Aasheim, Statoil’s senior VP for NCS field development. “By reducing the time from discovery to first oil by means of standardized solutions, we make small-size discoveries profitable.”
Hyme – formerly known as Gygrid – was discovered in June 2009, 19 km (11.8 mi) northeast of the Njord field on the Halten Terrace. Development involves drilling one production well and a water injection well through a four-slot subsea template. The field will be connected to the Njord A platform, which has spare processing capacity.
Recoverable volumes are estimated at 24 MMboe.