The Shetland/Lista phase 2 in Gullfaks development was recently approved and it involves drilling seven horizontal production wells using the existing facilities at Gullfaks.
The wells will be drilled in the Shetland Gp, a chalk reservoir located above the Middle Jurassic Brent Gp reservoir.
Since 2013, the Gullfaks partners have invested more than NOK one billion in productions wells in the Shetland Gp, recovering more than 6 MMboe.
Along with the new wells, water injection will be used to recover more oil from the Shetland Gp.
Total investments are estimated at NOK 2.2 billion and the project is sustainable at an oil price under $30 per barrel.