ExxonMobil boosts Recoverable Resources at Norwegian Sleipner West Field
Posted: 8 December 2004
Exxon Mobil Corporation (NYSE:XOM) announced today that its subsidiary, ExxonMobil Exploration and Production Norway, AS, has participated in an extensive upgrade program at the Norwegian Sleipner West field that will boost the estimated recoverable resources by approximately 350 million oil-equivalent barrels. The program will help keep Sleipner West's gas production at its plateau level of around 775 million standard cubic feet per day. ExxonMobil's Norwegian subsidiary has a 32 percent equity stake in this field, which is operated by the Norwegian company Statoil.
"A key part of this upgrade is the Sleipner West Alpha North satellite development, which includes the installation of a subsea template and the drilling of four wells," said Kathy Pepper, production manager and country lead for ExxonMobil in Norway . "We are pleased with improvements and upgrades at Sleipner West that have contributed to maintaining a high production level." Pepper noted that ExxonMobil, together with the operator and the other licensees, have executed the Sleipner West project at lower costs than originally specified in the plan for development and operation.
The Sleipner West Alpha North satellite project was delivered on time and at a cost of about $350 million, some 25 percent below the original estimate. In addition to the Sleipner Alpha North satellite development, the upgrade program includes the Sleipner West compression project. Through this project, the existing Sleipner T platform was modified to accommodate compression, for cost savings of $380 million versus the cost of building a new platform.
Posted by Alexander Lindsay, Editor Pipeline Magazine
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