Statoil suspends Bressay field Project

After several media reports saying that Statoil is postponing the development of Bressay field, Offshore Energy Today reached out to the Norwegian company seeking confirmation of these reports.

Statoil Postpone Bressay Field Development - Oil and …

07/03/2016 · Statoil Postpone Bressay Field Development

To Develop Bressay heavy oil field in the UK North Sea.

After several media reports saying that Statoil is postponing the development of Bressay field, Offshore Energy Today reached out to the Norwegian company seeking confirmation of these reports.

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The Bressay heavy oil field was first discovered in 1976, but a combination of technical and commercial challenges has resulted in the long period to mature the discovery to development.

Statoil is the operator of two fields on the UKCS, Bressay and Mariner, with Mariner set for first oil in the second half of 2018.

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Based on the £800mln tax relief, Statoil must be looking across the water at Bentley and thinking that it would make more sense for them to invest their money in developing that field than in their own Bressay.

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Looking at Bressay in particular (as it has more in common with XEL’s Bentley than Mariner) Statoil acquired the Bressay licence from Chevron in 2007. Since the initial acquisition Statoil has drilled and tested one successful appraisal well at Bressay. However, no horizontal wells have been drilled on the Bressay field to date. I’m sure they would give their right arm to know how XEL were so successful. XEL rightfully believes this info has significant value as mentioned at the recent AGM.

03/04/2016 · Statoil, Shell put concept for Bressay field on ..

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Statoil announced in April, that they were placing their Bressay and Mariner heavy oil field projects on hold until they can understand the full economics and even then it may well prove not to be worth their while.

the Mariner heavy oil field is estimated to hold 300 to 500 MMbbl of ..

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The Bressay heavy oil field was first discovered in 1976, but a combination of technical and commercial challenges has resulted in the long period to mature the discovery to development.

Statoil and Shell considers all options to reduce costs for the development of the heavy crude oil offshore project, Bressay, in the UK North Sea.

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STAVANGER , March 4, 2016 – Norwegian major Statoil has suspended its Bressay heavy oil project offshore the UK, a company spokesperson said on Friday, citing the current market environment as the main reason behind the decision.