MARKET INTELLIGENCE
Norway North Sea Production Boost for Vigdis Field
UK North Sea Azinor Catalyst Commits to Drilling Two Wells in 2020 West of Shetland on the Rise - UKCS Oil and Gas Activity
Australia BHGE Awarded Contract to Supply Subsea Production Systems
West Africa ExxonMobil to Explore More Acreage Offshore Namibia
The West of Shetland is rapidly becoming an area of key interest for exploration and development activity on the UKCS. By 2025, the West of Shetland could contribute approximately 30% of production on the UKCS, according to management consultancy McKinsey & Company, which may further increase with the province’s unsanctioned reserves of 3 billion boe. The West of Shetland will play an important role in developing economic growth and maintaining energy needs for the UK, so it is vital that the sector increases its efforts in being able to deliver production from currently problematic reserves and capitalise on the economic value of the area.
Norway North Sea Production Boost for Vigdis Field The subsea field Vigdis has been producing oil through the Snorre field for over 20 years. In that time, it has produced over 400 million boe, twice as much as originally believed it would produce, and it is now estimated that Vigdis has 455 million boe of recoverable resources. To fully capitalise on the oil recovery from the field, a subsea boosting station will be provided by OneSubsea.
Powered by an advanced power umbilical by Nexans, the subsea boosting station will be connected to the pipeline between Vigdis and the Snorre field to maximise its capacity, assisting the well stream between the subsea field and the platform. The boosting station will also allow for wellhead pressure to be produced, which as a result the production will increase, adding approximately 11 million boe (a 54% recovery rate) at a very competitive price. The entire umbilical system is expected to be installed in 2020.
North America Wood Becomes Technical Advisor on Vineyard Wind Project Vineyard Wind is the United States’ first utility-scale offshore wind energy project located 23 km off the coast of Massachusetts. Once completed, the 800 MW wind farm will generate clean, renewable energy for over 400,000 homes and businesses, whilst also reducing carbon emissions by more than 1.6 million tonnes per year. The role of technical advisor has been awarded to Wood on a four-year contract, on behalf of Vineyard Wind LLC, where Wood’s
Subsea UK News | June 2019
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