Pre-sanction Development Projects
Tuesday 20 September 2016
Njord Future Project
Following the planned shut-in of the Njord and Hyme fields in June 2016, the Njord A and B facilities were successfully towed to shore, on time and on budget, to strengthen the facility and modify the topsides in order to extend the life and accommodate the Snilehorn tie-back. Snilehorn (Faroe 7.5%) will be developed as a two-well subsea tie-back to Njord and it is planned that first oil from Snilehorn will coincide with production recommencing on Njord and Hyme in 2020. The Njord Future Project is progressing to plan with finalisation of the FEED project, final investment decision (FID) and field development plan (FDP) submission expected in Q1 2017.
Oda (Butch) Project
Concept selection for the Oda (Butch Main) discovery (Faroe 15%) was made in 2015 being a subsea tie-back to the Ula field in which Faroe will have a 20% interest acquired from DONG. The produced gas from Oda will be injected into the Ula Field reservoir to improve oil recovery. A compensation payment is expected to be paid by the Oda partners to the Oselvar field (Faroe 55%) which will cease production when Oda comes on stream. The plan is to submit the field development plan for Oda in late 2016.
Pil Project
Following its discovery in 2014, the Pil area now includes the Pil, Bue and Boomerang discoveries (Faroe 25%). The Pil partnership is maturing these significant discoveries towards development, focusing on either subsea development options or a stand-alone development solution, based on an FPSO. The partnership is making good progress towards the next major milestone, which is the concept selection decision expected in late 2016.