Statoil Receives Approval for Kristin Field Development

The Ministry of Petroleum and Energy has approved the unitization plan for the three licences on the Halten Bank in connection with the development of the Statoil-operated Kristin Field.

The three production licenses 134B, 199 and 257 which include the Kristin, Lavrans, Erlend, Morvin (the M-prospect) and Ragnfrid fields make up the Halten Bank West.

"Through Kristin we are now establishing a new field center in the Norwegian Sea. The extensive unitization agreement provides a rational, comprehensive framework for further development in that we now have a basis for an overall exploration strategy and field development plan for the Halten Bank West," reports Nina Udnes Tronstad, vice president for production on Kristin. The licensee allocation in the unitization agreement for Kristin is now Statoil 46.6 percent, Petoro 18.9 percent, Norsk Hydro 12 percent, ExxonMobil 10.5 percent, Agip 9 percent and TotalFinaElf with the remaining 3 percent.

In the summer, the Kristin gas and condensate field was allocated supplies to Norwegian gas sales contracts. The field will supply around 35 billion cubic meters of gas from 2005 to 2016.

The Kristin development will entail expansion of the Karsto gas treatment complex north of Stavanger, where the gas will be received and processed.


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