Norway
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Industry observers warn that the future of the UK North Sea hinges less on geology than on whether fiscal stability can be restored. -
The subsea field is part of the larger Snøhvit development in the Barents Sea.
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A total of 20 companies submitted applications for new exploration blocks offshore Norway.
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The initial phase of the carbon capture and storage project has a capacity of 1.5 million tonnes per year, with a second phase—due online in 2028—expected to bring the storage capacity to 5 million tonnes per year.
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The operator estimates discovering more than 96 million BOE of recoverable volumes with its latest Norwegian North Sea exploration activity.
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Electricity produced onshore powers oil production at Johan Sverdrup holding CO₂ emissions at only 5% of the global average.
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The field, which holds the first production license on the Norwegian Continental Shelf, sent oil to the Jotun FPSO on 23 June.
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Less than 3 months after going onstream, the Barents Sea project, the northernmost production offshore Norway, is producing 220,000 B/D.
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The Norwegian Ministry of Energy has approved the Phase 2 expansion, which is expected to increase carbon dioxide storage capacity from 1.5 million tonnes to 5 million tonnes.
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This paper describes the first riserless coiled tubing services operation performed in a live subsea well and the associated improvements in efficiency, cost savings, and safety.
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