Statoil submits Trestakk Plan
, Tord Lien, in Bodø. Capital expenditures are estimated at approximately 5.5 billion NOK. The discovery, made in 1986, contains about 76 million barrels of recoverable oil equivalent, mainly oil. The project will be tied back to the Åsgard A oil production vessel, with planned production startup anticipated in 2019. “Trestakk is a good example of what is possible to achieve through spending time on working toward the best concept selection. By rethinking our concept along with license partners and suppliers, we have arrived at a solution that costs almost 50 percent less than
Offshore Brazil: The Libra Field & Brazil’s Pre-Salt Policy
also pose serious concerns to major players. According to executives from major oil companies operating in Brazil, there is a growing fear that local industry will not be able to fulfill demands and meet deadlines, thus slowing down Libra’s development and possibly even delaying Libra’s production startup, which would also delay any profit gains. By contract, the minimum local content during the exploratory phase is set at 37%. During the EWT, this drops to 15%. For the development phase modules to begin by 2021, local content requirements reach 55%, and for development phase modules beginning