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Statoil Studies Options for Developing Bay du Nord

Source: www.gulfoilandgas.com 11/29/2016, Location: North America

In yet another sign that Newfoundland and Labrador's oil industry is headed into deeper water, Statoil is looking for help to study development options for its Bay du Nord discovery in the Flemish Pass Basin.

The company has issued expressions of interest for a subsea and marine study of the discovery, located roughly 500 kms east of St. John's.

The study will include the possible design of a floating production, storage and offloading vessel, known commonly in the industry as an FPSO, and the subsea production system that might be used.

Statoil, earlier this year, completed a a 19-month exploration drilling program offshore Newfoundland. The purpose of the drilling program was to increase the robustness of the Bay du Nord project and to test new areas of the Flemish Pass Basin.

Nine wells were drilled safely and efficiently by the Seadrill West Hercules in the Flemish Pass Basin, located approx. 500 kms east of St. John’s, Newfoundland and Labrador. The results have improved Statoil’s understanding of the frontier Flemish Pass Basin.

The drilling program included four exploration wells in close vicinity of the 2013 Bay du Nord discovery, as well as three appraisal wells on the discovery. In addition, two exploration wells were drilled in areas outside the Bay du Nord discovery. The program was conducted in a harsh offshore environment; however, with strong operational and HSE performance, setting several records on drilling speed during the campaign.

The drilling program resulted in two discoveries of oil at the Bay de Verde and Baccalieu prospects in the Bay du Nord area, both of which add to the resource base for a potential development at the Bay du Nord discovery.

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