Faroe Petroleum is targeting submission of a development plan for its Norwegian North Sea Brasse field in 2018, based on what could be a US$500 million, three to six well subsea tieback.
The firm has just completed its latest Brasse field appraisal program, with the side track appraisal well 31/7-2S, pushing estimates for the field's recoverable volumes up to 56-92 MMboe recoverable, comprising 46-76 MMbbl of oil and 59-97 Bcf of gas.
Initial flow rates from the prolific Brasse reservoir are also expected to be higher than previously thought, says Faroe, at above 30,000 boe/d, the firm says.
The current plan is for a subsea tie-back with three to six production wells and an optional water injection well for pressure support, with first oil in 2020/21.
An initial cost estimate on the project is c.US$550 million for a mid-case development scenario consisting of four wells and one subsea template.
Brasse, discovered in 2016, is 13km to the south of the Wintershall-operated Brage field platform, in Faroe holds 14.3% working interest, and 13km to the south east of the Statoil-operated Oseberg Field Centre. Both are possible tie-back hosts and technical and commercial work to select a host is ongoing, says Faroe.
External studies have already been done for the subsea production system (SPS), flow assurance and pipeline and marine work.
Concept select and submission of a plan for development and operations (PDO) are planned for 2018.
Graham Stewart, Chief Executive of Faroe Petroleum commented: “The Brasse field is clearly a very significant and valuable asset, with very attractive economics even at long term low commodity prices. The close proximity of the field to existing competing infrastructure combined with its prolific reservoir qualities and shallow water depth ensure this field can be developed expediently, taking full advantage of the current low cost environment."
The Brasse appraisal well sidetrack 31/7-2A was drilled to a total depth of 2275m TVDSS, targeting the reservoir 1km to the west of the appraisal well (31/7-2 announced on 13 June 2017) and 2.4km to the south of the main discovery well (31/7-1 announced on 16 June 2016).
The well penetrated the gas-oil contact and the oil-water contact in the southern part of the Brasse field and encountered about 18m of gross oil-bearing and 4m of gross gas bearing Jurassic reservoir above the oil water contact.
Preliminary results show that the well has encountered oil in a sand-rich reservoir of very good quality with the same oil-water contact as in the discovery well (31/7-1) and in the main bore of the appraisal well (31/7-2). The pressure data indicates good pressure communication within the reservoir.
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