Det norske Submits First PDO as Field Operator

- Det norske Submits First PDO as Field Operator

Monday, September 05, 2011
Det norske Oljeselskap

Det norske will present a plan for development and operation (PDO) of Jette to the Minister of Petroleum and Energy Ola Borten Moe, Monday. The PDO will be submitted on behalf of the partners in the Jette Group, which in addition to Det norske includes Petoro, Dana Petroleum and Bridge Energy.

Erik Haugane, CEO of Det norske, said it is a big and important decision for the company to submit a PDO for Jette. "This is a small development relative to other North Sea-projects, but it is our first field development as operator. We believe it is best to start off with a small-scale development before moving on to bigger projects, like Draupne. In a few years, we could also become a significant operator of field developments off Norway."

Jette is a small field located in the North Sea, just east of the Jotun Field. Jette will be produced with two horizontal wells, tied back to the Jotun floating production storage and offloading vessel (FPSO). Jette is a very good example of what the government describes as time-critical resources.

"Even though Jette is a small development, it still represents value for the companies and the Norwegian society. Det norske believes that oil companies should also take on these projects," said Haugane

First oil in 2013

Jette contains about 14 million barrels of oil equivalents, based on a 30 percent recovery rate. Daily production the first year will be approximately 14 000 barrels, of which some 9 000 barrels will accrue to Det norske. Estimated development costs of Jette is approximately 2,5 billion NOK. Given the current oil price, Jette may generate gross revenues of 8 billion NOK. Operational costs are lower compared to typical operating costs of stand-alone developments and therefore enhancing the profitability of the development. Production startup is set to 1st quarter 2013.

Through a share issue last week, Det norske strengthened its equity ahead of developing Jette. Field development and operation will be led by Det norske in Trondheim, while daily monitoring of operations is carried out by ExxonMobil.

The partners in Jette are Det norske (63.3 percent, operator), Dana Petroleum (19.2 percent), Bridge Energy (6.0 percent) and Petoro (11.5 percent).

Oil & Gas Post

Promote Your Page Too
LINK

GlassPoint Snags PDO Contract

- GlassPoint Snags PDO Contract

Wednesday, August 03, 2011
GlassPoint

Building on the launch of its solar enhanced oil recovery (EOR) project with Berry Petroleum earlier this year, GlassPoint Solar announced the award of a contract to build a 7 MW solar EOR system for Petroleum Development Oman (PDO), the national oil company of Oman. PDO, the largest producer of oil and gas in the Sultanate, will use the GlassPoint system at an existing thermal EOR project in southern Oman. The goal of solar EOR is to reduce the amount of natural gas burned for thermal EOR, releasing gas for higher value applications, including power generation, desalination, industrial development and export.

"After extensively researching solar EOR solutions, we've identified GlassPoint as the most promising technology for this pilot," said Dr. Syham Bentouati, PDO Corporate Technology Advisor. "GlassPoint's solar steam generators have the potential to release valuable natural gas for use in higher-value applications within the Sultanate."

The solar EOR facility will use concentrated thermal energy from the sun to produce low-cost, emission-free steam that will be fed directly into PDO's existing steam distribution network. Spanning more than four acres, the GlassPoint system will produce 11 tons of high temperature (312 ˚C), high pressure (1,450 psi) steam per hour. The completed project will be 27 times larger than the GlassPoint solar EOR system installed at Berry Petroleum's 21Z oil field in Kern County, California, USA.

Built specifically to withstand the harsh environmental conditions of the Gulf region, GlassPoint's unique single transit trough (STT) technology encloses lightweight reflective mirrors inside a glasshouse structure to protect the system from dirt, dust, sand, and humidity. In sunny regions, GlassPoint's solution can reduce the amount of natural gas used for EOR by up to 80 percent.

"It is an honor to be selected as the solar EOR solution for PDO, the preeminent leader in enhanced oil recovery techniques in the region," said Rod MacGregor, GlassPoint CEO and President.

"As part of our commitment to maintain a long-term presence in the Sultanate we have established a local company that will hire Omani professionals and help spread knowledge of state-of-the-art solar technology throughout the Sultanate," continued MacGregor.

Steamflooding is a well-proven and effective EOR technique, but it requires massive amounts of natural gas to generate steam. Gas scarcity throughout the Middle East puts the region's EOR operations in direct competition with industrial development. Oman, specifically, has experienced a surge of economic growth and industrial development in the past two decades, drawing the country's gas reserves to higher value applications. Using solar instead of gas for EOR would enable other gas dependent industries to continue to flourish.

Oil & Gas Post

Promote Your Page Too
LINK