Norway raises oil reserves estimates for Goliat field

*Norway’s Goliat oil field.

02 April 2017, Sweetcrude, London — The Norwegian Petroleum Directorate (NPD) has revised and increased the size of the oil reserves in the Goliat field in the Norwegian waters of the Barents Sea with the addition of two new wells.

With the drilling of the two wells, which would result in production startup from the Snadd discovery, would increase the oil reserves on Eni-operated Goliat field by 7.5 million barrels of oil equivalents to about 200 million barrels.

The Snadd reservoir is located between the Goliat’s two reservoirs Realgrunnen and Kobbe which are already in the production stage.

Eni, which operates Goliat through floating production platforms, has already secured approval for the Snadd prospect from the Norwegian government. It will drill one production well and one water injection well.

Norwegian Petroleum Directorate assistant director Tomas Mørch said: “The Norwegian Petroleum Directorate is pleased that the resources in Snadd will be produced. We also expect that the licensees on Goliat will drill more wells that can contribute to further improving recovery from the field.”

The Italian firm expects to commence production from the Snadd prospect in 2017 while the associated wells will be drilled from the Goliat’s subsea infrastructure and produced on the platform.

NPD said that several prospects have been identified in the area which can be tied to Goliat.

However, further studies are required to be carried out to assess if the identified prospects proves to be finds and are commercial.

The Goliat field is located in the production license 229, in the Barents Sea. Eni Norge is the operator of the PL229 with 65% stake while the remaining 35% is held by Statoil

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