Statoil to construct Barents Sea oil pipeline
Statoil is preparing to develop the Barents Sea’s biggest oil finds and will bring the crude ashore via pipeline, according to partner Petoro AS.
Crude oil will be piped from the new twin Skrugard and Havis discoveries, which together may hold as much as 600 million bbls of oil. The two fields are located 200 km (124 miles) from land and 7 km apart.
In January, the Norwegian Petroleum Directorate speculated that the Barents Sea holds more than 6 billion boe in undiscovered resources.
Smaller companies such as Det Norske Oljeselskap ASA and Lundin Petroleum AB have said a southbound export pipeline is necessary to make gas finds in the Barents Sea profitable. Stavanger-based Statoil, which expects to commence production in 2018, will soon present a development plan for the permit area in northern Norway.
Edited from various sources by Cecilia Rehn.
Read the article online at: https://www.worldpipelines.com/business-news/14022013/statoil_to_construct_barents_sea_oil_pipeline_324/
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