NEWS

Statoil has set tough targets to reduce costs in its project portfolio. During the last decade, subsea costs have increased significantly, and the industry needs to move from tailor-made solutions to more industry standards.

The concept was presented by Margareth Øvrum, executive V.P. for technology, projects and drilling in Statoil, at the Barents Sea Conference in Hammerfest, Norway.

“Once again, we aim to drive subsea technology development on the Norwegian Continental Shelf together with our industry partners. The potential for increased efficiency and reduced costs can make this the next standard within subsea templates,” said Øvrum. “With Cap-X, Statoil is one step closer to a ‘plug-and-play’ solution on the seabed.”

Cap-X is a combination of existing and new technology. It is a quarter of the size of today’s subsea templates and enables more operations from vessels as opposed to rigs.

The technology increases the efficiency of horizontal drilling in shallow reservoirs. The main structure of the technology can be produced in a shorter time frame by a larger number of suppliers, with the potential for local production.