Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Statoil to look for new approach at Bressay after putting brakes on project

Bressay
An early concept design for Bressay, which has been on hold since Equinor first bought it 13 years ago.

Norwegian semi-state owned oil company Statoil has admitted that it has slammed on the brakes of its multi-billion dollar Bressay heavy oilfield development in the UK North Sea.

Speculation had mounted during the day that the sister project to the $7billion (£4.4billion) Mariner development had been cancelled.

But then it emerged via a UK stock market board that the project has merely been postponed pending reassessment of the best way forward and that Statoil may exercise its option to extend the license.

Knut Rostad of Statoil’s communications department at Statoil was reported as telling the Norwegian paper TDN Finans: “I can confirm that the group has decided to reconsider the development concept for the Bressay field, and postpone the further development decision.”

Rostad said too: “The reason for the decision is that it is extended well data (extended well data) from earlier this year showing that there is potential to simplify the concept of the field.”

“We have a good dialogue with the Ministry of Energy and Climate Change (DECC) in the UK, and our decision is because we get a chance to extend the licence term.

Late this afternoon Statoil issued a statement confirming all of the above and adding: “This (review) will also involve reconsideration of the overall execution and procurement strategy for Bressay and re-engagement with the contractor market.

“The project will continue its efforts to increase the value of the business case through improvements in the reservoir drainage plan, simplifying the production facilities and reviewing the project execution and contract strategy.”

mapIn essence Bressay was expected to be a clone of the Mariner field development now under way. However, Statoil has always been clear that it would apply lessons and ideas garnered from Mariner to guide the manner in which Bressay is ultimately developed.

Statoil said the decision to delay Bressay would have no impact on the Mariner development.

This summer the Norwegian company revealed its plans for Bressay, which it took over from Chevron as operator in 2007.

It was targeting up to 300million barrels from the heavy oil field, with around 600 jobs set being created by the project.

First oil from the field was expected in early 2018, but that would now appear to be in doubt.

Earlier this year Statoil announced it was delaying the proposed development of the Johan Castberg field in the Barents Sea in order to look at simpler proposals for the prospect.

Recommended for you


More from Energy Voice

Latest Posts