OMV Announces Support for Aasta Hansteen Development

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Austria's OMV announced Wednesday that it supports the decision by Statoil to go ahead with the development of the Aasta Hansteen gas field in the northern Norwegian Sea.

Rigzone reported Tuesday that Statoil has now submitted plans for the development and operation of Aasta Hansteen to the Norwegian Ministry of Petroleum and Energy. The field, where production is scheduled to begin in 2017, is expected to reach peak production of 130,000 barrels of oil equivalent per day from a resource that is estimated at around 1.7 trillion cubic feet of gas and 28.3 billion cubic feet of condensate.

Jaap Huijskes, OMV's head of exploration and production, commented in a statement:

"We are committed to this project. It is designed as a future hub and it will therefore unlock great potential in the region. Together with the recently acquired stakes in two other development projects, Zidane and Edvard Grieg, Norway will add substantially to OMV's production growth."

OMV has a 15-percent stake in the joint venture, where Statoil – as operator – has a 75-percent holding and ConocoPhillips holds 10 percent.
 

 



A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com

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