Statoil Makes Gas Find Near Aasta Hansteen Field

Statoil Makes Gas Find Near Aasta Hansteen Field
Statoil makes another gas find near its Aasta Hansteen field in the Norwegian Arctic, further raising the gas resource in one of its biggest ongoing projects.

Reuters

OSLO, April 13 (Reuters) - Energy firm Statoil made another gas find near its Aasta Hansteen field in the Norwegian Arctic, further raising the gas resource in one of its biggest ongoing projects, it said on Monday.

Statoil found between 2 and 7 billion cubic metres of gas and together with a discovery announced earlier this year, it has increased the field's resource by about a quarter, it said in a statement.

Aasta Hansteen, earlier thought to contain about 47 billion cubic metres of gas, is expected to start up in 2017, pumping gas through a new 480-kilometre pipeline.

The field was earlier estimated to cost 32 billion Norwegian crowns ($4 billion) while the Polarled pipeline was expected to cost 25 billion crowns.

Partners in the new discovery include Statoil (42.5 percent), Centrica (20 percent), Norwegian state holding firm Petoro (20 percent), BASF subsidiary Wintershall (10 percent) and Atlantic Petroleum (7.5 percent).

$1=8.10 Norwegian crown

(Reporting by Balazs Koranyi, editing by Louise Heavens)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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Chris Tadda | Apr. 13, 2015
Very Good Discovery. Glad they are going forward in this Project. I hope they come and drill their Alaska Offshore Leases Soon!


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