The NOK19bn ($2.3bn) Aasgard subsea plant, which is claimed to be the world’s first of its kind, is expected to add approximately 306 million barrels of oil equivalent to total output of the field, over its operational life.
Proposed in 2005, the compression station project secured development and operation plan approval in 2012 to help ensure regularity, enhanced recovery and robust production while reducing energy consumption and CO2 emissions for the field.
Statoil technology, drilling and projects executive vice-president Margareth Øvrum said: "This is one of the most demanding technology projects aimed at improving oil recovery.
"We are very proud today that we together with our partners and suppliers have realised this project that we started ten years ago."
Featuring over 40 new technologies, the compression plant launch also represents a step ahead for the realization of subsea processing plant, also known as the subsea factory.
The seabed gas compression is expected to increase the oil and gas recovery from Midgard and Mikkel reservoirs on Åsgard field from to 87% from 67%, and to 84% from 59% respectively.
Statoil Åsgard operations senior vice-president Siri Espedal Kindem said: "Thanks to the new compressor solution we will achieve increased recovery rates both at Midgard and Mikkel, extending the reservoirs’ productive lives until 2032."
Statoil operates the Åsgard field with 34.57% stake. Other project partners include Petoro with 35.69%, Eni 14.82%, Total 7.68% and ExxonMobil 7.24%.
The compression station is one of the two subsea gas compression projects being developed by Statoil in Norway. The second project at the Gullfaks Sør satellite field in production license 050 offshore Norway secured Norwegian Petroleum Directorate consent in August.
Image: Installation work with the North Sea Giant vessel at the Asgard field. Photo: courtesy of Statoil.
