Awarded on behalf of the Gjoa licensees, the contract is based on Statoil's recommended solution with a semisubmersible production platform tied back to subsea wells.
"Gjoa is a demanding project with marginal profitability," says Einar Erfjord, head of the Gjoa steering committee. "The partners have therefore carefully considered alternative development solutions for the field. The preliminary study is now being started to facilitate the possible submission of a plan for development and operation (PDO) to the Norwegian authorities in the autumn of 2006."
Statoil aims to start producing in 2010.
Proven in 1989, Gjoa lies in blocks 35/9 and 36/7 about 70 kilometers north of the Troll field.
Recoverable reserves are put at 60 million barrels of oil and condensate and 35 billion standard cubic meters of gas.
The partners are Gaz de France Norge with 30 percent, Petoro with 30 percent, Statoil with 20 percent, Shell with 12 percent and RWE Dea Norway with eight percent.
Statoil is the development operator for Gjoa, with Gaz de France scheduled to take over in the production phase.
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