Further subsea tiebacks in prospect for North Sea Alvheim complex

Offshore staff

STOCKHOLM, Sweden -- Marathon’s Alvheim field in the Norwegian North Sea continues to perform above expectations, according to partner Lundin Petroleum.

The field began production in June 2008. Last year, ultimate reserves recovery was upgraded to 276 MMboe, a 65% increase on what was predicted when the Alvheim development plan was completed in 2005.

Phase II of Alvheim development drilling started in 2010, with a further two wells set to enter production in the second half of this year, followed by a third in early 2012.

First production from the Volund field, a satellite tieback to the Alvheim FPSO, started in April 2010 and its production has been raised to take advantage of additional spare capacity on the vessel. Lundin anticipates further development drilling on Volund next year.

Bøyla, an oil discovery in license PL 340, holds 20 MMboe, and also will be developed as a subsea tieback to the Alvheim FPSO. A plan of development should be submitted in the first half of 2012, with first oil expected in 2014.

Earlier this year, the nearby Caterpillar exploration well in PL 340BS was completed as a further new oil find. Caterpillar will most likely be developed through the Bøyla facilities.

In license PL338, Lundin operates the Luno discovery, which has proven and probable (2P) reserves of 148 MMboe. Conceptual studies are complete both for a standalone development and a joint development with the nearby Draupne field, operated by Det norske oljeselskap.

However, the partners have opted to pursue a standalone scheme for Luno, and a development plan will be submitted later this year, which will include this April’s Tellus discovery, thought to be a northern extension of Luno. Lundin also expects further exploration drilling on additional prospects in the license in 2012.

But the company has decided not to proceed with development of the Krabbe discovery in PL301 owing to uncertainty over recoverable resources.

08/03/2011



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