Spirit Energy has exited Valemon Field licences PLs 050 ES, HS & GS, and 193 B & D, assigning its 13% to operator Equinor, effective 29 November 2019. Valemon Field was originally estimated to hold 192 MMboe reserves prior to start up in January 2015, but this figure was retroactively downgraded to  99 MMboe at end 2018, when remaining recoverable reserves were 31 MMboe. Similarly production has fallen from 60,000 boe/d when it came online in January 2015, to 40,000 boe/d. This is likely due to its complex, fragmented reservoir with poor communication between different sections, an issue which was identified as a caveat to the original reserves estimate. The HPHT gas/condensate field produces from Early to Middle Jurassic Cook, Tarbert, Ness, Etive and Rannoch formations and was discovered by 34/10-23 (1985, Statoil, 4,764m), later incorporating 34/10-54 S (2014, Statoil, 4,280m). Subsequently Valemon West wildcat 34/11-6 (2017, Statoil, 7,126m MD/4,337m TVD) encountered an estimated 100-280 Bcfg in Tarbert sands. Valemon is operated by a remote-controlled production platform managed from a control room in Bergen, and was previously expected to produce until 2023, at around 60,000 boe/d. Condensate is piped to Kvitebjorn for processing and onward to Mongstad refinery near Bergen, while gas is piped for processing at Heimdal platform. Valemon Unit partners are Equinor Energy AS (66.775% + Op), Petoro AS (30%) and AS Norske Shell (3.225%).
Not Found