Germany's Wintershall Dea and its partners said on Nov. 15 they plan to invest an additional 4 billion Norwegian crowns ($402.7 million) in the Maria oil and gas field off the cost of Norway to produce an extra 22 MMboe.
The field's production has been below expectations since the 2017 startup, prompting Wintershall Dea to cut its original reserves estimate to around 100 MMboe from 180 MMboe, according to the Norwegian Petroleum Directorate.
Operator Wintershall Dea now plans to drill new wells and install new subsea equipment to boost the recovery, an amended development plan delivered to Norway's energy ministry showed.
The subsea field in the Norwegian Sea produces oil and gas via Equinor's Kristin field, some 25 km away. Production from Maria's Phase 2 development is expected to start in the second quarter of 2025.
Wintershall holds a 50% stake in the field while state-owned Petoro has 30% and HitecVision-backed Sval Energi the remaining 20%.
Recommended Reading
TotalEnergies Starts Production at Akpo West Offshore Nigeria
2024-02-07 - Subsea tieback expected to add 14,000 bbl/d of condensate by mid-year, and up to 4 MMcm/d of gas by 2028.
E&P Highlights: Feb. 5, 2024
2024-02-05 - Here’s a roundup of the latest E&P headlines, including an update on Enauta’s Atlanta Phase 1 project.
CNOOC’s Suizhong 36-1/Luda 5-2 Starts Production Offshore China
2024-02-05 - CNOOC plans 118 development wells in the shallow water project in the Bohai Sea — the largest secondary development and adjustment project offshore China.
US Drillers Cut Oil, Gas Rigs for First Time in Three Weeks
2024-02-02 - Baker Hughes said U.S. oil rigs held steady at 499 this week, while gas rigs fell by two to 117.
Equinor Receives Significant Discovery License from C-NLOPB
2024-02-02 - C-NLOPB estimates recoverable reserves from Equinor’s Cambriol discovery at 340 MMbbl.