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Classification: Internal GullfaksVillage2010 Gullfaks Sør Omega Project Some cost data and economic assumptions

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Page 1: Classification: Internal GullfaksVillage2010 Gullfaks Sør Omega Project Some cost data and economic assumptions

Classification: Internal

GullfaksVillage2010Gullfaks Sør Omega Project

Some cost data and economic assumptions

Page 2: Classification: Internal GullfaksVillage2010 Gullfaks Sør Omega Project Some cost data and economic assumptions

Classification: Internal

Gullfaks Omega - suggested cost data•Subsea development

– One four slot template with all pipelines: 1 500 MNOK

– Two four slot template with all pipelines: 2 500 MNOK ( + 1 000 MNOK/template)

•Fixed platform

– Wellhead platform with 15 slots: 4 000 MNOK

– Jacket with 20 slot drilling unit: 7 000 MNOK

•Drilling

– Semi-submercible 400 MNOK/well

– Jack-up 300 MNOK/well

– Own drilling rig 150 MNOK/well

– For all three altenatives: Drill four wells pr year

Page 3: Classification: Internal GullfaksVillage2010 Gullfaks Sør Omega Project Some cost data and economic assumptions

Classification: Internal

Gullfaks Omega – suggested cost data•Omega operations cost

– Operations sub-sea 100 NOK/bbl oe

– Operations jack-up 80 NOK/bbl oe

– Operations jacket 50 NOK/bbl oe

•Gullfaks operations cost

– Operations 10 NOK/bbl oe

– Transportation 1 NOK/bbl oe

•Plugging and abandonment

– Sub-sea 200 MNOK

– Jack-up 300 MNOK

– Jacket 400 MNOK

Page 4: Classification: Internal GullfaksVillage2010 Gullfaks Sør Omega Project Some cost data and economic assumptions

Classification: Internal

Suggested economic assumptions and sensitivities

•Economics assumptions– Oil price: 400 NOK/bbl increasing 3 % p.a.

– Gas price: 200 NOK/bbl oe increasing 3 % p.a

– Inflation: 1 %

– Discount factor: 5 %

•Run before tax economics

– Value and Net Present Value

– Internal Rate of Return (IRR, %)

•Sensitivities– Oil and gas prices increasing 5% p. a./decreasing 2 % p. a.

– Production +/- 30 %

– Investments: +/- 40 %

Page 5: Classification: Internal GullfaksVillage2010 Gullfaks Sør Omega Project Some cost data and economic assumptions

Classification: Internal

Block 34/10Oil field development in Norwegian - a history about courage.

Page 6: Classification: Internal GullfaksVillage2010 Gullfaks Sør Omega Project Some cost data and economic assumptions

Classification: Internal

GullfaksVillage2010 – Bergen 3/3 2010

Program 11:00    Welcome to Statoil in Bergen     Petter Eltvik  

11:30    Tapas lunch  Outside Auditorium       

12:00    Experts in Team in Statoil Gullfaks Ole Jørgen Birkenes     

12:15    Some cost data and economic assumptions Petter Eltvik

12:30 Review of part A reports and part B assignments in individual groups  

              Group 1 : LU007 Petter Eltvik/ Karl Sigurd Årland

Group 2 : LU004 Johan Eck-Olsen/Petter Eltvik

Groups 3&4 : L1004 Knut Muller/Ole Jørgen Birkenes

Group 5 : L1003 Eli Gule/Petter Eltvik

Group 6 : L1001 Esther Matland/Leif-Kristian Tveiterå

13:30 – 15:00 Review of Gullfaks Sør Statfjord in Cave Gunnar Halvorsen

Groups 3&4 kl 13:30, Groups 5&6 kl 14:00 and Groups 1&2 kl 14:30

15:00    Review of the day/Summary Auditoriet    

16:00 Departure for Dolly Dimples, Kokstad         

Page 7: Classification: Internal GullfaksVillage2010 Gullfaks Sør Omega Project Some cost data and economic assumptions

Classification: Internal

GullfaksVillage 2010

Overview over Statoil contactsGroup 1: Environmental Challenges by adding Chemicals to the WI

Contact in Statoil: Petter Eltvik; [email protected]. (also Karl Sigurd Årland)

Group 2: Drilling through depleted Brent Gr. Contact in Statoil: Johan Eck-Olsen; [email protected]

Group 3: Improved oil recovery with Smart wells. Contact in Statoil: Knut Muller; [email protected]

Group 4: Improved oil recovery with Smart wells Contact in Statoil: Ole Jørgen Birkenes; [email protected]

Group 5: Improved oil recovery with WI Contact in Statoil: Eli Gule [email protected]

Group 6: Geological and Geophysical uncertainties Contact in Statoil: Esther Matland [email protected] (also Kristian Tveiterå)

Page 8: Classification: Internal GullfaksVillage2010 Gullfaks Sør Omega Project Some cost data and economic assumptions

Classification: Internal

Gullfaks Sør Omega Project – suggested cost and economic assumptions

Petter EltvikProject Manager GO [email protected], tel: +47 91 82 09 39www.statoil.com

Thank you