Noreco presents production outlookSource: Allseas

Noreco presents production outlook

At an investor conference taking place this week, the Norway-based company presented its production outlook for the coming ten years.

Having acquired Shell’s 36.8% interest in the Danish Underground Consortium last year, Noreco is now actively involved in the Tyra redevelopment project and is thereby a major player in the Danish offshore sector.

Combined with production from other Danish fields, Noreco expects production to be north of 50 mboepd in 2022 and together with the development of contingent resources it hopes to maintain this level of production until 2029.

Production forecast Noreco. Source.

Although production from many Danish fields is declining, it is thanks to the biggest investment ever made in the Danish North Sea that the Tyra gas fields are expected to be in production for another 25 years. Total is the operator of the Tyra hub (43.2%), with Noreco at the said 36.8% and Nordsøfonden at 20%.

Redevelopment of Tyra was required because of the compaction of the Chalk reservoir and the associated subsidence of the seabed. Because of the subsidence the air gap between sea-level and the platform had significantly reduced (5 m), which made lifting of the old Tyra platforms a tricky operation.

The Tyra hub, which also consists of a series of six satellite fields such as Roar, Adda and Harald, is expected to commence July 2022 at a rate of 60,000 barrels of oil equivalent a day (boepd).