Snøhvit gets big gas reserves boost

Offshore staff

STAVANGER, Norway – Statoil has raised the natural gas reserves estimate for the Snøhvit field offshore Norway in the Barents Sea by 20 bcm (706 bcf). Experience with the field indicates the reservoir will produce better than previously thought.

The next question is how the exports from the field will be handled in light of the new reserves. The choices now are to increase LNG capacity or install an export pipeline. A decision regarding the concept is due in 2Q 2012.

The partners in Snøhvit are Statoil (operator - 36.79%), Petoro (30%), Total E&P Norge (18.40%), GDF SUEZ E&P Norge (12%), and RWE Dea Norge (2.81%).

1/31/2012

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...