Project Profile
Value: US$ 1,691 million (nominal)
Location: Southern Norwegian section, North Sea
Water depth: 66m
Discovery: 1980
Production start-up: 1990
Gyda is an offshore oil field located in the southern Norwegian section of North Sea along with Ula, Tambar and Tambar East fields making up the UGT area. The Gyda field was discovered in 1980 and started producing on June 21, 1990. The field contains confirmed 39.6 million m3 of oil and 6.6 billion cubic metre of natural gas. Gyda is located in approximately 66 metres of water. The main reservoir stands at 4,000 metres in the Upper Jurassic Ula Formation. The field has one conventional steel facility with production, drilling, living quarters. The field produces excessive amount of water making the oil production stable. Due to the difficulties, the production license was extended to 2018. The produced oil is transported by a pipeline to Ekofisk oil field and on to Teesside for refining. Repsol Norge AS is the operator of the field with 61% of interest in the project. The full share was bought by Repsol Norge AS in 2003 from the previous operator, BP for US$82 million. Capital spending on Gyda was expected to be US$131 million.
Operators:
Repsol Norge AS: 61% interest
DONG Energy: 34% interest
Norske AEDC AS: 5% interest
Contractors:
Archer: Plug and abandonment (P&A) rig operations