YmeWe have a 55% stake in the consortium formed by Lotos Exploration and Production Norge AS (20%), Okeas AS (15%), and Kufpec Norway AS (10%). We presented a new development plan in 2017 to reactivate production in the Yme oil well, which had been abandoned since 2001. An estimated 65 million barrels of oil are estimated to be recovered within the next ten years.
GudrunThe Gudrum field is located 50 kilometers north of Sleipner, at a depth of approximately 110 meters. Gudrun is run by a steel-covered facility and top-level processing linked with Sleipner A by two pipes: one for oil and one for gas, both of which are processed at and exported from the Sleipner A facility. The main operator is Statoil Petroleum AS (36%) with a stake held by Repsol Norge AS (15%), GDF Suez E&P Norge AS (25%), and OMV (Norge) AS (24%). Production exceeded expectations 2017, reaching values near 66% of the country net production.
VisundOn February 1st, 2018 we expanded our Upstream business through an agreement reached with Total to acquire the French company’s 7.7% stake in this field. Located in Norwegian waters of the North Sea, this well produces 120,000 barrels of oil equivalent per day. With this operation we have increased our operations in Norway by 40%, reaching a total of approximately 30,000 barrels of oil equivalent per day. Repsol operates this well in conjunction with Statoil, the main operator and holder of a 5.2% stake; Petoro with 30%; and ConocoPhillps with 9.1%.
In addition, the drilling of well 15/03- 11 (Sigrun) was completed in the North Sea, under license PL 025 (Gudrun). Exploration is being conducted by the consortium made up of Equinor (36% WI and operator), Neptune Energy (25%), OMV (24%), and Repsol (15%). The profitability of the discovery currently under analysis, with a possible development connected to the Gudrun field. Sigrun is located 10 kilometers to the southeast of this field and 225 kilometers west of the port of Stavanger.
Repsol has also obtained three new exploratory blocks in the offshore basins of Egersund and South Viking Graben. The company is operator of two of these blocks, PL-909 and PL-910, with a 70% and 61.11% working interest, respectively. In the third block, PL-913, Repsol holds a 50% in consortium with the operator, OMV. In January 2019 the Norwegian Ministry of Petroleum and Energy announced the adjudication of three new exploratory licenses to Repsol Norge, as well as the extension of an existing license. In February 2019, Repsol announced its agreement with Total for the acquisition of a 7.65% stake in the Mikkel field in Norway, which currently produces a total of 50,000 barrels of oil equivalent per day.