OKEA to Develop Hasselmus Gas Discovery as Tie-back to Draugen Platform


Norwegian oil company OKEA has with partners Petoro and Neptune Energy decided to develop the Hasselmus offshore gas discovery in the Norwegian Sea as a tie-back to the Draugen platform.

The Hasselmus gas discovery is located on the western edge of the Trøndelag platform in the Norwegian Sea, 7 km northwest of the Draugen platform, in production licence 093. A single well (6407/9-9 T2) was drilled on the Hasselmus structure by A/S Norske Shell in 1999 which encountered a 16 meters gas column and a 6.8 meters oil column in high-quality sands at a depth of 1,700 meters.

OKEA ASA (44.56% WI) is the operator of the Draugen licence and the Hasselmus project. Partners are Petoro AS (47.88% WI) and Neptune Energy Norge AS (7.56% WI). 

"Hasselmus will be the first tie-back to the Draugen production platform and will add in excess of 4,000 barrels of oil equivalents per day to the production," OKEA, the operator of the platform, said Tuesday. This will also be OKEA's first field development as the operator, as the company, while now the operator of Draugen, bought the already developed field from Shell in 2018.

The Hasselmus project is expected to recover approximately 1.65 GSm3 (10.6 million barrels of oil equivalent) as fuel and export gas and will also make possible the restart of export of associated gas including NGL which is currently being injected into the reservoir.

The development concept is a single subsea well with a direct tie-back to the Draugen platform.

 Production start-up is planned in Q4 2023 with plateau gas production of more than 4,400 barrels of oil equivalents per day gross.

 The breakeven price for the Hasselmus project is estimated to around USD 28/boe. The expected total investment cost for the project is NOK 2.4 billion gross (USD $290,5 million)..

‘"The Hasselmus project is the first field development project for OKEA as operator. Based on the single-well subsea development solution with tie-back to the Draugen platform it is also a financially robust project’, said Knut Gjertsen, SVP Projects and Technology in OKEA. "The temporary tax measures adopted by Parliament in June last year, have ensured a timely development of Hasselmus during a period of significant market volatility."

‘I am very pleased on my first day as CEO of OKEA to be able to announce that the Draugen licence has committed to developing the Hasselmus gas discovery,’ said new CEO Svein J. Liknes. ’‘The project is important for the long-term development of Draugen and demonstrates our ability to deliver on organic growth opportunities.’

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