Lundin Petroleum, the operator of the Bynhild field, located near the Norway-United Kingdom border, some 210 km from the Norwegian mainland, expects to produce first oil from the field next month.
In its quarterly report Lunding said that the subsea template and manifolds, as well as the production and injection flow lines have been successfully installed. The first of four development wells has been completed and is ready for production. The well found both the top of the reservoir and the quality of the reservoir as expected.
The drilling of the second production well is ongoing. The Haewene Brim FPSO has been successfully re-moored at the Pierce field offshore United Kingdom and the new production risers have been hooked-up to the FPSO. The topside modification and life extension work is close to completion. First oil from the Brynhild field is forecast in June 2014. The estimated gross reserves are approximately 23 million barrels of oil equivalents (MMboe). The hydrocarbons will be processed at the Haewene Brim FPSO before being offloaded for further transportation.
C. Ashley Heppenstall President and CEO said: “Gross initial production rates are forecast at 12,000 boepd and I believe it will be achieved and potentially exceeded based upon the results of the well.”
As for the first quarter 2014 result, the Swedish oil company reported its income was $4.4 million, a drop from $48.2 million earned in the first quarter of 2013. Revenue dropped to $235.4 million from $310.3 million in 1Q 2013.