Industry Trend Analysis - FIDs Primed For The Taking - APR 2017
BMI View: The Norwegian oil outlook appears solid , with project cos t reductions supporting a comple mentary mix of satellite field tie-backs and major greenfield developments. We expect four FIDs to be made in 2017.
Wintershall's Skarfjell development will kick start the wave of 2017 final investment decisions (FIDs) set to be taken in Norway over 2017. The company submitted the field development plan to the Ministry of Petroleum, having selected a subsea tie-back concept linking the field to the Gjoa platform. Momentum behind the project accelerated in 2016 following a 40% cost saving achieved in the concept design.
In addition to the Skarfjell tie-back, we also expect a final investment decision on the Njord future project in early 2017. This development will eventually incorporate new production from the Snilehorn and Pil og Bue fields as well as the brownfield redevelopment of the Njord and Hyme fields. Later in the year there is a strong possibility Statoil will move forward with the Snorre 2040 development and possibly even Johan Castberg.
|Sverdrup & Castberg Offer Long Term Support|
|Norwegian Oil Production By New Field (000b/d)|
|f = BMI forecast. Source: BMI|