Norway's Minister of Petroleum Opens Valemon Field

Norway's Valemon field has been officially opened, the Norwegian Petroleum Directorate reported Friday.

The field, discovered 30 years ago and which actually began production in January this year, was officially opened Thursday by Norway's Minister of Petroleum and Energy Tord Lien. Located just west of the Kvitebjørn field in the North Sea, Valemon currently has three producing wells but it will eventually have 10 production wells. Its reserves are estimated at about 192 million barrels of oil equivalent.

Condensate from Valemon is transported by pipeline via Kvitebjørn to Mongstad in Hordaland County. The rich gas is transported to Heimdal and then on by pipeline to the UK and the Continent.

According to operator Statoil, investments in Valemon will total about NOK 22.6 billion ($2.9 billion) when all wells are fully drilled.

Ingrid Sølvberg, the NPD's director of development and operations, commented in a company statement:

"The Norwegian Petroleum Directorate wants the resources on the shelf to be realised. Valemon contributes to value creation and activity."

Have a news tip? Share it with Rigzone!


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at
 -  Aker Solutions to Buy Brazilian C.S.E (Oct 21)
 -  Sea Trucks Group Secures Work Offshore... (Oct 21)
 -  Shell Divests Non-Core Oil, Gas Proper... (Oct 21)
 -  Petrofac Appoints New CFO (Oct 21)
 -  Wheatstone LNG Development Start-Up in... (Oct 20)

Most Popular Articles

From the Career Center
Jobs that may interest you
Logistics Coordinator & Optimization Analyst
Expertise: Logistics Management
Location: Billings, MT
Associate Category Manager or Category Manager Job
Expertise: Logistics Management|Purchasing|Supply Chain Management
Location: Denver, CO
Contracts Advisor
Expertise: Budget / Cost Control|Contracts Engineer|Supply Chain Management
Location: San Ramon, CA
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours