Statoil says size of reserves at small Glitne field doubles |
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Fri, 20 Apr 2007 14:19
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OSLO (Thomson Financial) - Norwegian oil and gas producer Statoil ASA said that the size of its small Glitne oil field had doubled and that its life had been extended to 2009 - and that such fields represented a major part of Statoil's future oil production.When Glitne field started up in 2001 plans were for production to continue to 2003 with recoverable reserves to be 25 million barrels of oil.'Everything indicates that we'll recover twice as much, closer to 50 million barrels,' said Glitne's operations manager Rolf Saltkjel.Daily output is now 9000 barrels of oil a day. Operator Statoil says it will drill a seventh well this summer which will produce from October, doubling output.'The development of smaller and more demanding fields is essential to our maintaining oil production of moe million barrels a day on the NCS (Norwegian Continental Shelf),' said Statoil senior vice president Astrid Soerensen.Statoil says Glitne is a jewel in its portfolio of fields, and that smaller fields will become increasingly more important for the oil giant.'Statoil is the largest operator of small fields on the NCS. Small fields are responsible for 17 pct of Statoil's oil and gas production,' said Soerensen.'By 2015 production from them will probably make up as much as 20-30 pct.'Glitne is the smallest stand alone development on the Norwegian continental shelf.Statoil is operator with a 58.9 pct share. Other licensees are Total with 21.8 pct, DNO ASA with 10 pct and Dong with 9.3 pct.patrick.mcloughlin@thomson.compm/rfwCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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