Statoil to Extend Production Life of Njord Platform

Statoil announced plans to tieback the Gygrid satellite field to the Njord A platform to extend the production life of the existing platform by several years. The fast-track development is located about 12 miles (20 kilometers) from the platform. The operator already ordered the components of the field's subsea production system with the longest delivery times to allow the field to meet the original start-up date of late 2012-early 2013. Discovered in June 2009, Gygrid's development plans call for a single subsea template with one production and one injection well. A final development decision will be made by the end of the year. Statoil serves as operator of the field, holding 35%; Noreco holds 17.5%; VNG holds 2.5%; Petoro holds 7.5%; E.ON Ruhrgas holds 17.5%; and GDF Suez 20%.

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