Lundin launches Solveig field off Norway
Sweden's Lundin Energy has brought the Solveig field off Norway into the production, the company said on October 1.
Solveig has been tied back to Lundin's flagship asset, the Edvard Grieg field in the North Sea. The first phase of the development is targeting 57mn barrels of oil equivalent in proved and probable reserves, and will consist of five wells expected to produce at a plateau rate of 30,000 boe/day.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
Solveig's oil will flow via Grieg to the Sture terminal in Norway, while its gas will be pumped via the SAGE system to the St Fergus terminal in the UK.
The field's launch will help extend Grieg's production life, which has already been extended by five years until the end of 2023, Lundin said. First oil was delivered on schedule. The $810mn project's breakeven oil price is under $20/boe, the company said.
Lundin hopes to file a development plan for Solveig's second phase with Norwegian authorities by the end of 2022, in order to recover up to 100mn boe in total from the field. Lundin operates Solveig with a 65% stake, while OMV and Wintershall Dea have 20% and 15% respectively.
Lundin CEO Nick Walker said he was confident "there is significant potential to bring additional resources on stream in the area, to extend the plateau production period even further at Edvard Grieg."
Solveig is the second Lundin field to start up this year following the launch of another Grieg satellite field, Rolvsnes, earlier this year.