Project Profile
Value: US$1.2 billion
Location: Haltenbanken area, ~30 km southwest of the Njord oil field, Norwegian Continental Shelf
Area: 287.366 sq. km
Production: 90 million and 200 million barrels of oil equivalent (approximately)
Start-up: 2021
Spike Exploration Holding AS (Spike) has recently acquired a 30% interest in PL586. This is Spike’s first licence on the Norwegian Continental Shelf. The licence is located in the Haltenbanken area, approximately 30 km south-west of the Njord oil field. The license covers an area of 287.366 square kilometres. Several attractive prospects have been identified in the licence, with the Pil-prospect high-graded as the first to be drilled late 2013 or early 2014. The operator for PL586 is VNG Norge AS (30%), with Faroe Petroleum Norge AS (25%) and Rocksource ASA (15%) being the other partners. The transaction is subject to approval from relevant authorities.
The Boomerang prospect is located in the Norwegian Sea in licence PL586, which also contains the significant Pil and Bue discoveries announced in 2014. The Boomerang prospect is located approximately 30 km to the southwest of the producing Njord field (Faroe 7.5%). The drilling programme will target prospective resources in the Upper Jurassic reservoirs analogous to the Pil, Bue and Draugen field reservoirs. After the drilling of the Boomerang exploration well bore (6406/12-4S) the campaign will continue with an updip side-track (6406/12-4A) and thereafter a further exploration well (6406/12-5S) on the on the Central Boomerang (Blink) prospect (Faroe 25%). The Boomerang exploration well is located in water depth of approximately 320 metres.
Operators:
Statoil: Operator with 20% interest
Engie E&P Norge: 40% interest
DEA Norge: 30% interest
Faroe Petroleum Norge: 7.5% interest
VNG Norge: 2.5% interest
Contractor:
TechnipFMC: Engineering, Procurement, Construction and Installation of the SPS and SURF
Transocean: Drilling contract using semi-submersible Transocean Arctic
Reinertsen: Contract for an owner’s engineering services (OES). The contractor will provide necessary technical expertise and resources required to secure handling of VNG Norge’s technical responsibilities as development operator towards the Front End Engineering Design (FEED) phase and throughout the Pil & Bue project duration. (March 2016)
Wood Group Mustang: FEED contract
Subsea 7: FEED contract - responsible for the subsea structures, umbilicals, risers & flowlines at the development. (March, 2017)
TechnipFMC: FEED contract - responsible for the subsea structures, umbilicals, risers & flowlines at the development. (March, 2017)
Aker Solutions: Secured the FEED work from VNG for the subsea production system that will be used in a tieback of Pil & Bue to the Njord A platform. (March, 2017)