Øivind Reinertsen, head of Statoil's US and Mexico organisation.
(Photo: Øyvind Hagen)
“The sanctioning of Big Foot shows our continued commitment to the US GoM,” states senior vice president Øivind Reinertsen, head of Statoil’s US and Mexico organization.
“This asset will add valuable production starting in 2014 and will be a core part of our GoM portfolio for many years.”
The Big Foot field is located approximately 225 miles (360 kilometres) south of New Orleans, Louisiana, USA, in water depths of 5,200 feet (1,600 metres). The development concept includes a dry tree extended Tension Leg Platform (TLP), with an on-board drilling rig and 15 well slots.
Big Foot has a production capacity of 75,000 barrels of oil and 25 million cubic feet of natural gas per day. The field is estimated to contain total recoverable resources in excess of 200 million barrels of oil equivalent. Development drilling is planned for 2013, with first oil expected in 2014.
Statoil has a 27.5% interest in the Big Foot field.
Statoil’s Houston office, which was established in 2002, manages the company’s GoM, Alaska, Marcellus and Eagle Ford portfolios, and currently staffs more than 300 people. With a working interest in more than 400 deep water leases, Statoil has positioned itself as a significant player in the exploration and development of oil and gas in the GoM.