30% less reserves in Oda

30% less reserves in Oda

Norwegian authorities have approved start-up for the Oda field in the southern North Sea.

Operator of the Oda field, Spirit Energy expects start-up for February or March.

Estimated reserves are now 32.7 million boe of which 31.5 million bbls are oil. This is a reduction with approximately 30% from the original estimate of 48 million boe when the development plan was submitted in 2016. At that time partner Faroe Petroleum was slightly more conservative with an estimate of 42 mmboe. The current estimate is even 10 mmboe less than that.

Oda is a subsea development where the wellstream is sent on to the Ula platform for processing and transport.
The produced gas will be sold to the Ula licensees for use as injection gas for alternating water and gas injection (WAG) on the Ula field. The oil will be exported through Ula’s export pipeline via the Ekofisk field to the Teesside terminal in the UK. The seawater that will be used for water injection for pressure support on Oda will be delivered from the Ula platform.

Read here the press release from the NPD.