Fossil energy – production
Repsol started oil production at Norway’s Yme field on Monday, the company said in a statement, applying new technology to bring the North Sea petroleum reservoir back on stream 20 years after it was first abandoned.
Norway’s Equinor closed Yme in 2001 after only six years of production amid a plunge in crude oil prices, while Canada’s Talisman Energy later gave up an attempt to revive the field.
“Achievement of first oil is a true testament to the lean operations of the Yme New Development project,” Repsol said, adding that it was made possible “through the use of new technology and innovation”.
The Spanish firm and its partners aim to produce about 63 million barrels in extra recoverable oil reserves, with plateau output seen at 56,000 barrels of oil equivalent per day (boepd), the company said.
“COVID-19 has unfortunately caused the project to be delayed and more costly than expected, but we have still managed to deliver the project in a safe and reliable way,” said Vidar Nedreboe, head of Repsol’s Norwegian operations.