StatoilHydro's Volve Field On-Stream

The StatoilHydro-operated Volve field in the North Sea came on stream on February 12, 2008.

The Volve field is located around 200 kilometers west of Stavanger in the southern section of the Norwegian continental shelf (NCS). StatoilHydro has a 59.6% interest in the field.

Oil from the field will be produced by using the Maersk Inspirer jack-up rig, while Navion Saga will be used as a storage vessel for further transport.

The gas will be sent to the Sleipner A platform for final processing and export.

Recoverable reserves are estimated at 78.6 million barrels of oil and 1.5 billion standard cubic meters of gas. Production from Volve is expected to reach plateau production of 50,000 barrels per day by the end of the first quarter of 2009.

StatoilHydro is operator of the field and has assigned the operations activities to Maersk. Maersk Inspirer is the world's largest jack-up rig and the only of its kind used for production purposes on the NCS.

Maersk Inspirer started drilling in the summer of 2007 and has also completed the processing plant during this period.

It has been decided to develop the field with eight wells but another five wells are already being planned and matured.

The field production is expected to last for four to five years

The licensees are StatoilHydro (operator) (59.6%), Exxon Mobil (30.4%) and PA Resources(10.0%).

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