Asset Report
Magnus Area
Report summary
The Magnus Area includes the Magnus and Magnus South oil and gas fields, which are among the most northerly fields in the North Sea. Magnus has been developed via a large steel platform, with Magnus South tied back to the main facilities. Magnus South ceased production in 2013 with the wells subsequently being plugged and abandoned in 2017.An enhanced oil recovery (EOR) programme on the Magnus field started in 2002. Until mid-2019 both gas and water injection were applied. The miscible gas ...
Table of contents
- Key facts
-
Summary and key issues
- Summary
-
Key issues
- A late life extension project is ongoing
- Shutdown expected in Q3 2023
- Enhanced oil recovery (EOR) continues
- Accelerated decommissioning at Ninian could adversely impact Magnus
- Location maps
- Participation
- Geology
- Well data
- Exploration
- Reserves and resources
-
Production
- Magnus
- Magnus South
- Emissions
-
Development
- Key Development Metrics
-
Platform
- Produced Water Re-injection scheme (PWRI)
- Subsea Water Injection Facilities Tie-back (SWIFT)
- Drilling
-
Enhanced Oil Recovery (EOR)
- Water Injection
- Miscible Gas Injection (MGI)
- West of Shetland Fields
- Sullom Voe Terminal
- Magnus South
- Infrastructure
-
Costs
-
Capital costs
- Magnus
- Magnus South
- Decommissioning costs
- Operating costs
-
Capital costs
- Sales contracts
- Fiscal and regulatory
-
Economic assumptions
- Cash flow
- Discount rate and date
- Inflation rate
- Oil price
- Gas price
- Carbon price
- Exchange rate
- Fiscal terms
- Global Economic Model (GEM) file
-
Economic analysis
- Cash Flow
Tables and charts
This report includes 32 images and tables including:
- Key facts: Table 1
- Index map
- Magnus Area map
- Participation: Table 1
- Geology: Table 1
- Well data: Table 1
- Reserves and resources: Table 1
- Reserves and resources: Table 2
- Infrastructure: Table 1
- Sales contracts: Table 1
- Production: Table 1
- Production: Table 2
- Magnus Area production profile
- Development: Table 1
- Costs: Table 4
- Costs: Table 5
- Costs: Table 6
- Cash flow (US$ million)
- Economic analysis: Table 2
- Economic analysis: Table 3
- Split of Revenues
- Cumulative Net Cash Flow - Undiscounted
- Cumulative Net Cash Flow - Discounted at 10% from 01/01/2023
- Remaining Revenue Distribution (Discounted at 10% from 01/01/2023)
- Remaining Present Value Price Sensitivities
- Cash flow (£ million)
- Economic analysis: Table 5
- Economic analysis: Table 6
- Schematic of the Magnus EOR project
- Costs: Table 1
- Costs: Table 2
- Costs: Table 3
What's included
This report contains:
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