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Trestakk Subsea on Stream in the Norwegian Sea

Gasoil News - Published on Fri, 19 Jul 2019

Image Source: Equinor
Production from the Trestakk subsea field on Haltenbanken in the Norwegian Sea started on 16 July. Tied back to the Åsgard A floating production vessel, the field has estimated recoverable resources of 76 million barrels of oil. Field production started on time, below budget and without any serious incidents. Mr Anders Opedal, executive vice president for Technology, Projects and Drilling in Equinor, said that together with our partners ExxonMobil and Vår Energi we spent ample time on maturing Trestakk, and with proper assistance by our main supplier TechnipFMC we arrived at a good and profitable concept with development costs nearly halved before the investment decision was made. This proves that it is important and correct to spend sufficient time in the early phase of a project. When the project was approved by the authorities in 2017, the investments were estimated at NOK 5.5 billion. On field start-up the final costs are expected to be NOK 5 billion.

Mr Opedal said that “The project has managed to maintain its focus on cost efficiency after the investment decision was made, freeing up capital that we and our partners can use on other projects.”

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Posted By : Sanju Moirangthem on Fri, 19 Jul 2019
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