The Troll Story - EASEE - GAS March 2016 Ivar - Troll A_.pdf · The Troll Story The Troll Story...

15
1 Knut Ivar Pettersen, VP Production Troll A The Troll Story - EASEE - GAS March 2016

Transcript of The Troll Story - EASEE - GAS March 2016 Ivar - Troll A_.pdf · The Troll Story The Troll Story...

Page 1: The Troll Story - EASEE - GAS March 2016 Ivar - Troll A_.pdf · The Troll Story The Troll Story Kollsnes Troll A Troll B Troll C 20 km Kollsnes Mongstad Troll Gas: A North Sea Giant

1

Knut Ivar Pettersen, VP Production Troll A

The Troll Story - EASEE - GAS March 2016

Page 2: The Troll Story - EASEE - GAS March 2016 Ivar - Troll A_.pdf · The Troll Story The Troll Story Kollsnes Troll A Troll B Troll C 20 km Kollsnes Mongstad Troll Gas: A North Sea Giant

2014-10-31 2 Classification: Internal

Page 3: The Troll Story - EASEE - GAS March 2016 Ivar - Troll A_.pdf · The Troll Story The Troll Story Kollsnes Troll A Troll B Troll C 20 km Kollsnes Mongstad Troll Gas: A North Sea Giant

The Troll Story - EASEE - GAS March 2016

3

Knut Ivar Pettersen, VP Production Troll A EASEE March 2016

Page 4: The Troll Story - EASEE - GAS March 2016 Ivar - Troll A_.pdf · The Troll Story The Troll Story Kollsnes Troll A Troll B Troll C 20 km Kollsnes Mongstad Troll Gas: A North Sea Giant
Page 5: The Troll Story - EASEE - GAS March 2016 Ivar - Troll A_.pdf · The Troll Story The Troll Story Kollsnes Troll A Troll B Troll C 20 km Kollsnes Mongstad Troll Gas: A North Sea Giant

Norwegian gas is key to European energy security

Proximity to markets Access to an integrated

and flexible pipeline

infrastructure

Large gas resource

potential on the NCS*

Source: Norwegian Petroleum Directorate (NPD) resource account as of 31.12.2014

Reserves

Contingent resources

in fields/discoveries

Undiscovered

1922

bn Sm3

1450

bn Sm3

625

bn Sm3

Only one third of NCS resources have been produced to date

Nyhamna

Europipe II

Europipe I

Norpipe

Emden/

Dornum

Åsgard transport

Franpipe

Zeebrugge

Zeepipe

St Fergus

Vesterled Kårstø

Kollsnes

Ormen Lange

Easington

Langeled

Ekofisk

Sleipner

Troll

Dunkerque

Tampen Link

Draupner

Polarled

Norway

Pipeline

LNG

Russia

Algeria

400 – 1200 km

~3000 km

6000 – 7000km

Caspian

Region

~4000 km

20 oktober 2015 5 Classification: Internal

© Statoil ASA

Page 6: The Troll Story - EASEE - GAS March 2016 Ivar - Troll A_.pdf · The Troll Story The Troll Story Kollsnes Troll A Troll B Troll C 20 km Kollsnes Mongstad Troll Gas: A North Sea Giant

The Troll Story

The Troll Story

Kollsnes

Troll A

Troll B

Troll C

20 km

Kollsnes

Mongstad

Troll Gas: A North Sea Giant

− Located 80 km northwest of Bergen

− Gas Reserves 1400 GSm3

Troll Oil: The impossible made possible

− 2+ billion barrels

− 120.000 bbls/day

• Troll Area: Commercialize tie-ins

− Fram Vest 60.000 bbls/day at peak

− Fram Øst 55.000 bbls/day at peak

− Other discoveries and prospects

6

Page 7: The Troll Story - EASEE - GAS March 2016 Ivar - Troll A_.pdf · The Troll Story The Troll Story Kollsnes Troll A Troll B Troll C 20 km Kollsnes Mongstad Troll Gas: A North Sea Giant

Troll – gas for Europe

• Gas is exported through three

36” pipelines from Troll A to

Kollsnes

• The gas is processed at

Kollsnes and sent on to Europe

in four independent pipelines

• Zeepipe

• Franpipe

• Statpipe

• Europipe

Page 8: The Troll Story - EASEE - GAS March 2016 Ivar - Troll A_.pdf · The Troll Story The Troll Story Kollsnes Troll A Troll B Troll C 20 km Kollsnes Mongstad Troll Gas: A North Sea Giant

The Troll Field

• World class gas field

- 1470 billion cubic meters recoverable gas

- 40 % of Norwegian gas reserves

- 30 % of Norrwegian gas exports

• Cornerstone in Norways gas supply

to EU

- 30 billion cubic metes annual production

- 7-8 % of EU gas consumption

- 120+ million cubic metes/day capacity

• A zero emmision platform

- Powered by electricity from shore

– A giant among gas giants

20 oktober 2015 8 Classification: Internal

© Statoil ASA

Page 9: The Troll Story - EASEE - GAS March 2016 Ivar - Troll A_.pdf · The Troll Story The Troll Story Kollsnes Troll A Troll B Troll C 20 km Kollsnes Mongstad Troll Gas: A North Sea Giant

2014-10-31 9 Classification: Internal

Page 10: The Troll Story - EASEE - GAS March 2016 Ivar - Troll A_.pdf · The Troll Story The Troll Story Kollsnes Troll A Troll B Troll C 20 km Kollsnes Mongstad Troll Gas: A North Sea Giant

The Troll Story

Troll A - A North Sea Giant

Tallest construction ever moved on the

face of earth

− Height 472 m

− Waterdepth 303 m

− Weight > 1 million ton

− Topside weight – 39000 MT

− Steel in GBS correlates to 15 Eiffel towers

Largest gas field in the North Sea

− Production start - 1996

− Gas to ~10 million European households

− 39 ea. wells – dry XT

− 210 Cabins – max POB 289

− Expected life time 2060

1

0

Page 11: The Troll Story - EASEE - GAS March 2016 Ivar - Troll A_.pdf · The Troll Story The Troll Story Kollsnes Troll A Troll B Troll C 20 km Kollsnes Mongstad Troll Gas: A North Sea Giant

• One of several projects in

pipeline to optimize production

from Troll

• Robust and profitable project -

realizing 83 billion cubic meters

• Maintain annual production of 30

billion cubic meters and daily

capacity of 120+ million cubic

meteres

• Facilitate production from Troll

towards 2060

New gas compressors – key to maintain high prodution

20 oktober 2015 11 Classification: Internal

© Statoil ASA

Page 12: The Troll Story - EASEE - GAS March 2016 Ivar - Troll A_.pdf · The Troll Story The Troll Story Kollsnes Troll A Troll B Troll C 20 km Kollsnes Mongstad Troll Gas: A North Sea Giant

Faster and deeper cost reductions

...and continue to raise the bar USD billion

We have delivered ahead of time… Percent improvement on selected activities

-25% time

-30% cost

-10% cost

-30% cost

-20% cost

>5.0 pp

Drilling time per

offshore well1)

US onshore cost

per boe

Facility capex

Modification capex

Field cost NCS

Production

efficiency

Existing

targets

Delivery

2015

2013

baseline

Former

2016 target

-30% time

-45% cost

-15% cost

-40% cost

-25% cost

>6 pp

New 2016

targets

2.5

1.9

Capital expenditure

Operating expenses

1.3

Target @

CMU 2014

Step-up @

CMU 15

Delivered

2015 New

target

~50%

step-up

Step-up @

CMU 16

30%

step-up

1) Production wells 12

Page 13: The Troll Story - EASEE - GAS March 2016 Ivar - Troll A_.pdf · The Troll Story The Troll Story Kollsnes Troll A Troll B Troll C 20 km Kollsnes Mongstad Troll Gas: A North Sea Giant

Economy and Risks

• Very robust economics

• Higher gas off-take required to accelerate start-up

from 20242020

• No major risks identified, timing of start-up is the key

question

Key drivers

• Value creation through higher/earlier gas off-take

• Maintain maximum daily capacity of 120 MSm3

• Optimize oil recovery

• Prepare for gas late-life and ensure flexibility for oil • 60 MSm3/d capacity

• 2 templates, 12 wells

• Manifold, umbilical

and pipelines to TRA

• TRA modifications

2016 2017 2018 2019 2020

Gas

Permit

Appl.

PDO Operation

Tentative schedule Troll Phase 3:

• CAPEX: < 10 GNOK

Troll – Future Developments

2016-02-04

Page 14: The Troll Story - EASEE - GAS March 2016 Ivar - Troll A_.pdf · The Troll Story The Troll Story Kollsnes Troll A Troll B Troll C 20 km Kollsnes Mongstad Troll Gas: A North Sea Giant

2016-02-04 14 Classification: Internal

Page 15: The Troll Story - EASEE - GAS March 2016 Ivar - Troll A_.pdf · The Troll Story The Troll Story Kollsnes Troll A Troll B Troll C 20 km Kollsnes Mongstad Troll Gas: A North Sea Giant

Thank you for your

attention.

EASEE

Knut Ivar Pettersen

VP Production Troll A

[email protected]

www.statoil.com