StatoilHydro stated that a subcontracted model of development was chosen because of the field’s relatively short lifespan, estimated to be about five years and a recovery rate of 45%.
However, plans are reportedly underway to extend the field’s lifespan by exploring nearby resources in the Volve Future Wells project. Exploration and development are reportedly taking place in parallel alongside drilling, start-up and commissioning.
The company said that Volve South and Volve West will be investigated first using multilateral branches, after which Theta South will be explored. The Volve field was separated from the Sleipner field, and existing infrastructure is therefore close at hand.
StatoilHydro said that the Volve field represents an important contribution to its production targets with the field’s daily production of 56,000 barrels of oil per day. The firm’s share of this production is 30,000 barrels per day.
