Statoil Submits PDO for Valemon Field

Statoil has submitted a plan for development and operation of the Valemon gas/condensate field to the Ministry of Petroleum and Energy with the goal to commence production in 2014. The field's development calls for a fixed steel platform to separate gas, condensate (light oil) and water in the wellstream. Gas from the field will be exported via an existing pipeline to a hub and then onwards to markets in the UK and continental Europe. Statoil also awarded a letter of intent to Heerema Vlissingen BV for the construction of a steel jacket for the Valemon platform. An additional contract was also awarded to Heerema for the transportation and installation of this structure. The jacket is scheduled for completion in the spring of 2012. Valemon is located on Block 34/10 in the Norwegian sector of the North Sea.

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