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Production start for Statfjord Øst project
Production start for Statfjord Øst project.
About this update from Seascape Energy Asia Plc
[{"type":"text","content":"\n\n29 August 2023 \n \n \n Longboat Energy plc \n(\"Longboat Energy\", the \"Company\" or \"Longboat\")\n \nProduction start for Statfjord Øst project\n \nLongboat Energy, an emerging full-cycle E&P company with activities in Norway and Malaysia, is pleased to note the following announcement made by Equinor confirming the production start for the Statfjord Øst project (Company 4.80%).\n \nOn 3 July 2023 the Company announced the acquisition of a 4.80% unitised interest in the Statfjord Øst Unit and a 4.32% unitised interest in the Sygna Unit and where completion is expected before the year end. -----------\n________________________\n \nWith this project, Equinor and its partners expect to increase production by 26 million barrels of oil equivalents from Statfjord Øst.\n \nThe project is completed with sound safety results and is expected to deliver within estimated cost, despite the inflation and weakened Norwegian krone. Production starts six months ahead of schedule.\nTwo new wells have been drilled from existing subsea templates, and three additional wells are to be drilled. Statfjord Øst is tied to the Statfjord C platform, and the project includes a modification on Statfjord C and laying of a new pipeline for gas lift to the subsea wells.\nThis is a good example of how we work with mature fields. Equinor aims to be a leading operator of late-life fields on the NCS. That means that we need to find new ways of working to reduce costs. Together with our partners we have developed simpler and faster solutions while maintaining high...