The Norwegian Petroleum Directorate (NPD) has given ExxonMobil Corp. (NYSE: XOM) permission to continue using subsea facilities on the Sigyn Field in the North Sea from the end of 2017 until the end of 2022, NPD said in a news release.
The subsea facilities include wells and a subsea template, a pipeline to Sleipner A, and an umbilical for controlling and monitoring of wells.
NPD said ExxonMobil, which holds a 40% interest in the field with partner Statoil holding the rest, indicated in its application that current estimates show production until year-end 2022.
A new development well drilled in 2016 contributed to the field’s extended lifetime. The field encompasses the deposits Sigyn Vest, which contains gas and condensate, and Sigyn Øst, which contains light oil, NPD said in the release. Production started in 2002.
Recommended Reading
Yellen Expects Further Sanctions on Iran, Oil Exports Possible Target
2024-04-16 - U.S. Treasury Secretary Janet Yellen intends to hit Iran with new sanctions in coming days due to its unprecedented attack on Israel.
The Jones Act: An Old Law on a Voyage to Nowhere
2024-04-12 - Keeping up with the Jones Act is a burden for the energy industry, but efforts to repeal the 104-year-old law may be dead in the water.
Kinder Morgan Exec: Building Pipelines ‘Challenging, but Manageable’
2024-04-05 - Allen Fore, vice president of public affairs for Kinder Morgan, said building anything, from a new road to an ice cream shop, can be tough but dealing with stakeholders up front can move projects along.
FERC Again Approves TC Energy Pipeline Expansion in Northwest US
2024-04-19 - The Federal Energy Regulatory Commission shot down opposition by environmental groups and states to stay TC Energy’s $75 million project.
BWX Technologies Awarded $45B Contract to Manage Radioactive Cleanup
2024-03-05 - The U.S. Department of Energy’s Office of Environmental Management awarded nuclear technologies company BWX Technologies Inc. a contract worth up to $45 billion for environmental management at the Hanford Site.