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Statoil, Partners Green Light Aasta Hansteen

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Statoil, Partners Green Light Aasta Hansteen

Statoil has submitted plans for development and operation (PDO) of the Aasta Hansteen gas field, formerly Luva, to the Norwegian Ministry of Petroleum and Energy. Additionally, the consortium also submitted the plan for installation and operation (PIO) of the Polarled pipeline to transport the gas to the mainland.

"We are very pleased to take another step in the development of Norwegian Sea activities together with our partners. Aasta Hansteen will be the first deep-water development in the Norwegian Sea," said Øystein Michelsen, Statoil's executive vice president of Development and Production Norway, in a statement.

"At the same time this opens for the tie-in of existing and new discoveries. The development may generate substantial ripple effects in the north," Michelsen added.

The planned field development, totaling $5.7 billion, includes a SPAR platform, which will be the first such installation on the Norwegian continental shelf. Statoil stated that the risers transporting the gas from the seabed to the platform and further to Polarled (previously known as the Norwegian Sea Gas Infrastructure) will be pure steel, which will be the first of its kind on the Norwegian Continental Shelf.

The 298-mile-long Polarled pipeline will extend Norway's pipeline infrastructure, measuring about 4,971 miles long in total, according to Dow Jones Newswires. This will allow gas to be transported from nearby discoveries to the Nyhamna gas terminal on Norway's northwest coast.

Discovered in 2008, the field is expected to commence production at the end of 2017. Plateau production is expected at 130,000 barrels of oil equivalent per day. Total recoverable reserves for Aasta Hansteen are preliminary estimated at about 47 billion cubic meters of gas and .8 billion cubic meters of condensate.

Statoil serves as operator of the development with a 75 percent stake, while OMV Norge AS has a 15 percent stake and ConocoPhillips has a 10 percent stake.

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