Norwegian oil and gas company StatoilHydro has reiterated its focus on the hydrocarbon resources in the Arctic and the need to nurture new technology to access these resources.
In October 2007, Statoilhydro signed a frame agreement with Gazprom for a 24% equity interest in Stokman Development Company. The Stokman field is the world’s largest undeveloped offshore gas field with gas initially in place of about 3700 billion m³. The site is located in the Russian part of the Barents Sea.
Addressing delegates at the Deepsea Asia Pacific conference 2008 in China, De-Johan Lydersen, president, China, Statolihydro, also stressed the importance of environmentally sustainable developments, in particular with regards to the sensitive arctic environment.
“In the future we will see challenges related to ever-increasing distance to shore. To continuously improve the multiphase transportation will hence be of major importance,” said Lydersen.
“Advanced drilling and well technology will play an important role in the future both to maximise recovery factors on existing fields and to be able to produce from increasingly challenging reservoirs,” he added.
By Alex Hawkes