Vår Energi ASA $VAR (-5,16 %) is pleased to announce an increase in both production and recoverable volumes from the Gjøa field (PL153) following the start-up of the Gjøa low pressure project.
The project has modified the compressor systems on the Gjøa platform, allowing the wells to operate longer and at higher production rates, which has resulted in an increase in remaining recoverable volumes.
Production from the Gjøa field increased by 6 thousand barrels of oil equivalent per day (kboepd) from 35 kboepd to 41 kboepd (gross) as a result of the start-up. In addition, the remaining recoverable volumes increased by a total of 6.3 million boe, which corresponds to an increase of around 25 %. The low-pressure project extends the economic production life of Gjøa by 2 to 3 years and has a payback period of less than 6 months.
Torger Rød, COO of Vår Energi, said:
"This is a great achievement. By using standard technology, we are not only increasing production and remaining recoverable volumes from the Gjøa field, but also extending the economic life of the other production fields Duva, Vega and Nova, which are connected to the Gjøa platform. This is a win-win situation for the production fields and the development projects in the greater Gjøa area."
The platform modifications enable flexible operation and are expected to increase production from all connected production fields. The project was carried out as part of a planned maintenance shutdown to minimize the impact on daily operations.