Friday, April 01, 2011
Det norske oljeselskap ASA
As a result of the decision made by Det norske, a plan for development and operations (PDO) for the Froy field will not be filed this year, and it has not been decided when such a plan will be submitted.
As a result of the decision made by Det norske, a plan for development and operations (PDO) for the Froy field will not be filed this year, and it has not been decided when such a plan will be submitted.
Froy Platform
The plan was to submit a PDO in the autumn 2010 with a FPSO concept. However, this was delayed in order to evaluate the possibility of using simultaneous water and gas injection, rather than water injection only as a production strategy. The results from these studies indicated that SWAG only had a marginal impact on project economics.
The Froy field development, where the partnership already in January 2008 decided to push forward with the project, has been delayed several times. These delays have opened new development alternatives, which Det norske finds prudent to explore.
COO Oyvind Bratsberg said that the company has major field developments ahead as an operator, "Det norske will over the coming years develop from a pure exploration company into a exploration, field development and production company. Going forward the company will concentrate its resources on the Draupne field development and smaller developments, such as Jetta. Froy will be developed at a later stage, and possibly with a different development solution."
Froy holds about 60 million barrels of recoverable oil. Det norske is operator for Froy and holds 50 percent. Premier Oil Norge is the only partner in the license with 50 percent.
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