Statoil cuts costs of latest North Sea Fram/Troll tieback

Offshore staff

STAVANGER, NorwayStatoil says drilling efficiency measures helped cut capex for the Fram C project in the North Sea by around NOK200 million ($24.4 million).

Fram C East is a long production well drilled by the Stena Don from the existing Fram subsea template. Production will be tied back to the Troll C platform.

From there, gas will be transported via Troll A to Kollsnes, while the oil will be piped to Mongstad for further processing.

Originally Statoil budgeted NOK800 million ($97.6 million) for the project, but various measures such as a smart well concept cut the final figure to NOK600 million ($73.2 million).

Recoverable resources at Fram C are estimated at 18.2 MMboe of oil and 1.6 bcm of gas.

Partners in the project are ExxonMobil, Engie, and Idemitsu.

08/25/2016

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