A milestone in the Snorre Expansion Project (SEP) was reached on 12 December 2020 , when the first wells were put on production. The project is a major contributor to the extended field life of Snorre to 2040, and is estimated to add about 200 million barrels of oil to the field reserves.
Snorre field has been on stream since 1992, and is one of the fields on the Norwegian continental shelf with the most remaining reserves. The modified plan for development and operation (PDO) of the Snorre field was submitted by Equinor and partners in December 2017, and the project was originally scheduled to come on stream in the first quarter of 2021.
24 new wells drilled from 6 new subsea templates will increase recovery from the Snorre field from 46 to 51 percent, representing significant value for a field containing 2 billion barrels of recoverable oil. Total investment in the project is 19.5 billion NOK.
“Start of production from the first wells is a major achievement for the Snorre Expansion Project. The project has been successfully executed ahead of time and below sanction cost, even in these challenging Covid-19 times. Idemitsu is very pleased to be partner in Snorre Unit and of the way the operator has executed the project in cooperation with vendors, service companies and partners. The project is an important contributor to achieve Idemitsu’s production targets”, says Managing Director Futoshi Tsuneyama.