Statoil, Partners to Recover Reserves at Asgard Field

Statoil and partners have chosen to use subsea gas compression to help recover the remaining reserves in the Asgard field. Eventually, pressure in Midgard and Mikkel, two reservoirs developed with seabed installations tied-back to the Asgard B platform, will become too low to sustain their ability to produce to the B platform. By installing compressors, it will sustain the gas flow, ensuring continued production to the platform.

Currently, the partners are waiting for a possible investment decision, which is expected by the first quarter of 2011. The Asgard field is located 124 miles (200 kilometers) offshore Norway in the Halten Bank of the Norwegian Sea. Operated by Statoil with 34.57% interest in the field and facilities, partners in the project are Petoro with 35.69%, Eni with 14.82%, Total with 7.68% and ExxonMobil with 7.24%.

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