Suncor Energy Norge has had an office in Stavanger since 2006. Offshore Norway is an important exploration theatre in Suncor’s Exploration and Production (E&P) Offshore business. The company’s strategic objective is to grow a
sustainable exploration and production business in the country. Norway has several world-class basins that offer a wide range of exploration opportunities with significant open acreage which, when combined with regular bid rounds, offers material growth opportunities in the region.
Since establishing the Stavanger office, Suncor has participated in several bid rounds for exploration licenses, both operated and non-operated. Our current portfolio consists of 16 licenses:
- seven operated
- nine non-operated
Suncor has established an excellent reputation and track record in Norway. We are participants in three discoveries that have commercial potential – the Suncor-operated Beta Statfjord discovery (2010) Point Resources-operated Fenja discovery and the Spirit-operated Oda discovery (previously known as Butch). Potential options for development of the Beta field will require future assessment subject to availability of third party processing capacity.
The Spirit-operated Oda field was discovered in 2011 and is located 13 kilometres east of the producing Ula field in the southern part of the Norwegian North Sea. Suncor has a 30% interest. It will be developed with a seabed template that will be tied back to the Ula field. Oil will then be exported to Ekofisk and onward via Norpipe, the undersea oil and natural gas pipeline system in the North Sea, to the Teesside terminal in the United Kingdom. The subsea tie-in solution will provide safe, cost efficient delivery of the field, enabling peak oil production of approximately 35,000 barrels per day. Production is planned to start in 2019.
Oda is a very robust project even in the current price environment, and Suncor is pleased to be a partner. We remain focused on organically building our capabilities and presence in Norway, where our portfolio allows for sustained activity and provides a platform for future growth and a long-term business presence in Norway.
Suncor Energy Norge is dedicated to delivering economic prosperity, improved social wellbeing and a healthy environment for today and tomorrow for all stakeholders