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Lundin Petroleum Alvheim FPSO update

Posted: 31 March 2008

Lundin Petroleum reported that the Alvheim FPSO has been successfully hooked-up on the Alvheim Field, offshore Norway.

The Alvheim FPSO left the port in Haugesund on the 16 February for final commissioning and testing in the Amoyfjord. Due to adverse weather conditions the sailaway to the final location on the Alvheim field was delayed.

The Alvheim FPSO was moved from the Amoyfjord on the 25 March to the Alvheim Field and was successfully hooked-up to the buoy on the 27 March according to plan. The plan forward is to continue ordinary commissioning and production start-up preparations.

First oil from the Alvheim Field is expected by the end of April.

Marathon Oil Corporation through its wholly owned subsidiary Marathon Petroleum Norge AS is the operator and holds 65 per cent of the Alvheim development. Partners are Lundin Petroleum with a 15 per cent interest and ConocoPhillips Norge AS with a 20 per cent working interest.

The Alvheim field encompasses Production Licenses PL 203, PL 088BS and PL 036C on the Norwegian Continental Shelf.




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