Norway – Edvard Grieg tie-back projects

Solveig Project
The Solveig oil discovery in PL359, is located 15 km south of the Edvard Grieg field and will be developed via a subsea tie-back to the Edvard Grieg platform, involving five development wells with gross peak production of 30 Mboepd. The PDO for the Solveig Phase 1 project has been submitted to the Norwegian authorities and is anticipated to be approved during the second quarter of 2019.

Solveig Phase 1 gross proved plus probable reserves are estimated at 57 MMboe. The capital cost of the development is estimated at MUSD 810 gross with a breakeven oil price of below 30 USD per barrel. The potential for further phases of development, which will capture the upside potential in the discovered resources, will be derisked by production performance from Phase 1. All of the key contracts have been awarded and modifications at the Edvard Grieg platform will commence during the second quarter 2019. Solveig Phase 1 first oil is scheduled in the first quarter 2021.9.

Rolvsnes extended well test
The production application for the Rolvsnes Extended Well Test (EWT) was submitted in April 2019. The Rolvsnes EWT project will be conducted through a 3 km subsea tie-back of the existing Rolvsnes horizontal well to the Edvard Grieg platform. The project is being implemented together with the Solveig project to take advantage of contracting and implementation synergies, with first oil scheduled in the second quarter 2021. The on-trend Goddo prospect is planned to be drilled in 2019, with the combined Rolvsnes and Goddo prospective area estimated to contain gross potential resources of more than 250 MMboe.

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