Production starts at Volve field
Posted: 13 February 2008
The production of oil and gas has started on the Volve field in the Norwegian part of the North Sea. The oil- and gas group PA Resources owns a 10 per cent working interest in the production license for the field.
The Volve field is situated approximately 200 kilometres west of Stavanger, in the southern part of the Norwegian continental shelf.
The oil on the field is produced by the jack-up platform Mærsk Inspirer, and the vessel Navion Saga is used for storing the oil prior to further transport.
The gas is transported to the platform Sleipner A, where it is finally processed and exported.
The production at Volve will now be gradually increased and the field is estimated to reach its peak production of 50,000 barrels per day before the end of the first quarter 2009. The field is estimated to produce during four to five years. The extractable reserves are estimated to 78.6 million barrels of oil and 1.5 billion cubic meter of gas.
"We have now reached a major milestone and taken a step forward in the group's development," said Ulrik Jansson, President and CEO at PA Resources.
"The Volve field is our first Norwegian field that has started its production. It will contribute with 5,000 barrels of oil per day to PA Resources at peak production."
The operator StatoilHydro has out-sourced the whole operation of the Volve field to Mærsk. The rig Mærsk Inspirer is the world's largest jack-up rig. It is also the only jack-up rig that produces oil and gas on the Norwegian continental shelf.
Mærsk Inspirer began drilling on the Volve field in the summer of 2007 and has since then completed the processing facility. It is decided that the field will be developed by drilling eight wells, but the operator has already started to assess an additional five wells.
The licensees in the Volve field are the operator StatoilHydro (59.6 per cent), Exxon Mobil (30.4 per cent) and PA Resources Norway AS (10.0 per cent).
Posted by Richard Price, Editor, EnergyME.com
Information supplied by companies or PR agencies who are responsible for content.
Send press releases to richard@energyme.com |
