Doubled reserves in Peregrino

December 21, 2007, 13:58 CET

The major achievement of the development phase has been the increase in expected reserves, which are now in the range of 300 to 600 million barrels of oil.

Hydro purchased 50% of the BM-C-7 licence in 2005. At that time, the recovery factor for the heavy oil field was estimated to be 9%. The current reservoir depletion plan, utilising produced water injection and rock compaction, is expected to yield a recovery factor of 20%, meaning that the estimated recoverable reserves have more than doubled.

The handover of the operatorship complies with an agreement between former licensees. In accordance with the agreement, Anadarko will take over the operatorship for the project execution and operations phases. StatoilHydro was the operator during the project planning phase.

StatoilHydro and Anadarko are committed to continuing their efforts to find suitable ways to increase the recovery factor even further.

The production facilities are designed to allow for the future implementation of enhanced oil recovery methods. One of the most important features in this respect is the inclusion of 23 spare well slots on the two wellhead platforms.

Infill drilling from the spare slots and the potential use of multilateral wells may further increase the recovery factor from the reservoir.   

The Peregrino field is located about 85 kilometres offshore Brazil in about 100 metres of water. The first phase of the development includes two drilling and wellhead platforms and a floating production storage and offloading vessel (FPSO).

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