Asset Report
Fenris Area
Report summary
The Fenris Area (previously King Lear) includes two high pressure/high temperature (HP/HT) gas condensate fields: Fenris and Julius. The fields are located in the Central North Sea, approximately 20 kilometres north of Ekofisk and 50 kilometres south of Ula.The fields are being developed through a joint development solution with Valhall. An unmanned wellhead platform and four production wells at Fenris will tie-back to a new production platform at Valhall 50-kilometres away. Resources in ...
Table of contents
- Key facts
-
Summary and key issues
- Summary
-
Key issues
- Fenris reaches FID in December 2022 and takes advantage of Norwegian temporary tax terms
- New Valhall platform will host Fenris Area
- Start-up pushed back to 2027 and project costs rise
- Reservoir conditions remain challenging
- Further infill drilling acts as upside
- Pilot well was drilled to verify absence of shallow gas
- Power from shore will limit field level emissions
- Location maps
- Participation
- Geology
- Well data
- Exploration
- Reserves and resources
- Production
-
Development
- Key Development Metrics
- Drilling
- Infrastructure
-
Costs
- Capital costs
- Decommissioning costs
- Operating Costs
- Fiscal and regulatory
-
Economic assumptions
- Cash flow
- Discount rate and date
- Inflation rate
- Oil price
- Condensate price
- Gas price
- Carbon price
- Exchange rate
- Fiscal terms
- Global Economic Model (GEM) file
-
Economic analysis
-
Cash flow
- Cash flow (US$ million)
- Cash flow (NKr million)
-
Cash flow
Tables and charts
This report includes 24 images and tables including:
- Key facts: Table 1
- Index Map
- Fenris Area Map
- Participation: Table 1
- Geology: Table 1
- Well data: Table 1
- Reserves and resources: Table 1
- Production: Table 1
- Production: Table 2
- Production Profile
- Development: Table 1
- Costs: Table 1
- Costs: Table 2
- Costs: Table 3
- Economic analysis: Table 1
- Economic analysis: Table 2
- Economic analysis: Table 3
- Split of Revenues
- Cumulative Net Cash Flow - Undiscounted
- Cumulative Net Cash Flow - Discounted at 10% from 01/01/2024
- Remaining PV Price Sensitivities
- Economic analysis: Table 4
- Economic analysis: Table 5
- Economic analysis: Table 6
What's included
This report contains:
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