2018 Offshore Technology Yearbook

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Page 22 of 55

KEY PLAYERS | 2018 OFFSHORE TECHNOLOGY YEARBOOK | December 2017 | 21 The Shell-operated Malikai project, Malay- sia's first tension-leg platform, started up production in December 2016. Peak annual production is 60 Mbbl/d. In February, Shell and Mitsui Oil Exploration announced a final investment decision to develop Phase 1 of the Kaikias deepwater project in the U.S. GoM. Statoil • Ranked No. 207 on Fortune's Global 500 list • Obtained 29 licenses in mature areas and 5 in frontier areas offshore Statoil is the world's largest offshore operator with more than 40 assets over more than 30 fields in the North Sea, the Norwegian Sea and the Barents Sea, according to its website. Statoil produces about 70% of all oil and gas production on the Norwe- gian Continental Shelf (NCS). With about 20,500 employees worldwide, the company currently oper- ates in more than 30 countries. At the end of 2016, Statoil had 5,013 MMboe of proved oil and gas reserves. Statoil participated in 14 exploration wells in 2016 and made 11 discoveries, and it expected to drill around 30 wells in 2017, already having drilled 14 with nine discoveries in the first half of the year. The company obtained 29 licenses in mature areas in Norway's 2016 awards round 16 as operator and 13 as nonoperating partner—announced in January 2017. Statoil was awarded five licenses in frontier areas—four as operator and one as partner. Adjusted earnings in second-quarter 2017 were $3 billion, and equity production was almost 2 MMboe/d, up from about 1.96 MMboe/d in the same period in 2016. "Our solid financial results and strong cash flow are driven by good operational performance with high production efficiency and continued cost improvements," Eldar Sætre, president and CEO of Statoil ASA, said in a statement regarding second-quarter 2017 results. The Gina Krog oil and gas field in the North Sea started up production in June 2017. It has 20 well slots, with an initial plan to drill 11 production wells and three injection wells. Statoil is making progress on Johan Sverdrup, one of the largest oil discoveries ever made on the NCS. Johan Sverdrup has expected reserves of between 1.9 Bboe and 3 Bboe. The jacket for the riser platform has been installed as part of Phase 1, which will have four platforms and is almost 60% complete. First oil from Phase 1 is scheduled for late 2019. The Johan Sverdrup partnership is proceeding with development of Phase 2, which In September, the Aasta Hansteen topside sailed away to the Norwegian Sea. (Photo by Lee Hyeongjin, courtesy of Statoil)

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