Lundin files Solveig development plan. Cost estimated at $810 million

Swedish oil company Lundin Petroleum has filed the plan for the development of the Solveig field offshore Norway. The field was previously called Luno II.

Image source: Lundin Petroleum

Lundin plans to develop the Solveig offshore oil discovery via a subsea tie-back to the Edvard Grieg platform, which is located 15 kilometers away.

The development will involve drilling of five development wells with gross peak production of 30 Mboepd and is anticipated to start up in the first quarter of 2021.

The overall cost is estimated at $810 million gross and with a breakeven below USD 30 per boe.

“The Solveig project will be implemented together with the Rolvsnes Extended Well Test (EWT) project to take advantage of contracting and implementation synergies,” Lundin said.

The first phase of the Solveig development contains 57 MMboe of gross proved plus probable reserves, and Lundin will decide on the potential further development phases based on the performance of the first phase.

The contract for the modification of the Edvard Grieg field facilities has been awarded to Rosenberg WorleyParsons and the subsea system contract has been awarded to TechnipFMC under a lump sum engineering, procurement, construction, and installation contract (EPCI).

Drilling work will be carried out using the recently contracted West Bollsta, high specification, dual capability semi-submersible rig.

Alex Schneiter, CEO and President of Lundin Petroleum said: “I am very pleased to announce that we have today, submitted the PDO for the Solveig development to the Norwegian Ministry of Petroleum and Energy. With first oil scheduled for early 2021, Solveig will be the first sub-sea tie-back development in the Greater Edvard Grieg Area and is a realization of our strategy of tying back high margin barrels to our operated facilities, as we focus on extending the plateau at Edvard Grieg beyond 2021.”

Share this article

Follow Offshore Energy Today

Events>

<< Jan 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply