Statoil recommends building a new drilling and processing platform on the Snorre field in the North Sea to extract maximum remaining reserves.

Together with Petoro and the other licence partners, Statoil has worked hard to find a good solution for extending the life of the field to 2040.

A thorough evaluation of the "Snorre 2040" project has been carried out with detailed examination of two development concepts—a subsea development with continued use of the Snorre A and B platforms, or a development with a new platform tied in to Snorre A and B.

"The platform solution is the best alternative for maximising production and creating the greatest possible value," says Øystein Michelsen, Statoil executive vice president for the Norwegian shelf.

"Snorre 2040 is an important improved oil recovery (IOR) project and supports our ambition of achieving an average oil recovery rate of 60% from our fields on the Norwegian shelf."

Tags: Statoil