Norway’s energy giant, Statoil, yesterday announced plans for development of Luva Field located in Production Licence 218 (PL 218).
The field is situated approximately 140 km north of Norne and some 300 km West of Bodø and lies in 1,300 metres of water. Statoil and its partners Exxon Mobil and ConocoPhillips plan to use a floating production unit for the development of the field.
Preliminary concept involves drilling of seven wells.
Estimated recoverable reserves at Luva, including Haklang and Snefrid South, are 40-60 billion scm, according to the data from Statoil’s website.
The total investment cost is estimated to NOK 34 billion ( USD 5.7 Billion)
[mappress] Offshore Energy Today Staff, December 14, 2011