Statoil Pumps First Oil at Morvin Field

Statoil commenced production from the Morvin oil and gas satellite field on November 1. The field is a subsea development with two subsea templates and four production wells, which are tied-back to the Asgard B production platform for processing via a 12-mile (20-kilometer) long pipeline. Initially, production will flow at a rate of 24,000 boepd, and once start-up of well two commences, production is expected to increase to 51,000 boepd. Located on exploration Block 6506/11 and spanning Production Licenses 134 B and 134 C, Morvin is situated 124 miles (200 kilometers) from the shore. Statoil operates the field, holding a 64% interest; Eni holds 30%; and Total holds 6%.

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Brent Crude Oil : $54.15/BBL 0.51%
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