Statoil Gives Go-Ahead to Edvard Grieg Pipeline

Statoil reported Thursday that it has given the go-ahead for a joint oil export solution for the Edvard Grieg and Ivar Aasen fields.

Oil from the fields will now be transported via a 27-mile pipeline from Edvard Grieg to the Grane oil pipeline and then on to the Sture terminal, which is located near Bergen in western Norway. The pipeline will be called the "Edvard Grieg" oil pipeline.

Statoil noted that the transport solution is a precondition for developing the Edvard Grieg and Ivar Aasen fields. Edvard Grieg is scheduled to start producing in 2015 and Ivar Aasen in 2016.

The investment decision was made by Statoil along with its partners Lundin and Det norske oljeselskap, who operate the Edvard Grief and Ivar Aasen fields respectively. A plan for installation and operation has been submitted to the Norwegian Ministry of Petroleum and Energy.

"We are an important player in the Sleipner and Utsira area, and are therefore concerned with robust solutions that provide the possibility of expanded activities in the area in the future," Tor Martin Anfinnsen, Statoil's senior vice president for trade with crude oil, wet gas and refined products, commented in a company statement.


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