Category: Business News
Statoil’s Troll B field has produced 1 Bboe since it came on-stream September 1995. Troll fields, B and C combined, have been the largest oil producer on the Norwegian continental shelf (NCS) for the last three years.
On Troll, oil accumulates in thin columns and efficient recovery required innovative solutions and technology. The cumulative production proves that the effort pays off. Troll B will soon produce three times more than the expected volume stated in the plan for development and operation.
Revenues for the common good. When Troll B came on stream in 1995, nine oil wells and one gas injector had been pre-drilled. For more than 21 years, the platform has regularly delivered high volumes of oil. Over the life of the field, the average daily production has been 129,570 boe. In 2016, daily production will average 75,478 boe, an impressive rate for a 21-year-old field.
Based on the average oil price for the years in production, one billion bbl of oil from Troll B has produced revenue equaling $30.8 billion USD. Approximately, 75%, or $23 billion USD, have been channeled back to the Norwegian state through direct ownership and taxes.
“The combined oil and gas produced from the greater Troll field to date represent values worth $149.38 billion USD. After 20 years of production, Troll will probably be the highest oil producing field on the NCS for the fourth year in a row. Troll B is delivering high regularity and good HSE results, and this is the result of dedicated employees, both offshore and onshore,” says Lars Høier, vice president of Troll operations.
Still more wells. During the past several years, Troll B has had a “flat” production profile thanks to an efficient and active drilling program as well as technology development and implementation. We still forecast another 8-10 years of oil production on the platform. In 2015, a new record was set when a distance of 145,000 m were drilled in the reservoir. The budget aims for start-up of 15 new wells in 2016.
Source: World Oil