Statoil: Valemon field officially opened

Statoil says that Norway’s petroleum and energy minister, Tord Lien, has opened the Valemon gas and condensate field in the North Sea. Expected recoverable reserves from the field are 192 million barrels of oil equivalent.

The Valemon field, which has a high-pressure/high-temperature reservoir, is one of several new projects on the Norwegian continental shelf, extending the life of surrounding installations. The field will have the first new Bergen-operated platform since Kvitebjørn was put on stream 10 years ago. Condensate from Valemon will be piped to Kvitebjørn for processing and then forwarded to Mongstad, while the gas will be transported to Heimdal for processing and then sent to the market.

“Valemon is thereby extending the life of Heimdal, which was scheduled to be shut down in 2014, as a gas hub in this part of the North Sea,” said Arne Sigve Nylund, Statoil executive vice president for Development & Production Norway.

By using existing facilities on Kvitebjørn and Heimdal, as well as existing pipelines, the Valemon field development costs will be further reduced. Investments in the Valemon field development will total around NOK 22.6 billion when all wells have been drilled. The platform will then have 10 production wells.

License owners include Statoil Petroleum A/S (operator) (53.77%), Petoro AS (30%), Centrica Resources (13%), and A/S Norske Shell (3.23%).  

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

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...