Statoil To Start Gina Krog Oil And Gas Field In June


OSLO, May 24 (Reuters) - Norwegian Petroleum Directorate said on Wednesday it has given consent for Statoil to start the Gina Krog oil and gas field in the North Sea.

Operator Statoil, which holds a 58.7 percent stake, is planning to start production in June, it said.

The field, named after Norwegian suffragist Gina Krog, was previously expected to start in April, information on the NPD's website showed.

Gina Krog is estimated to hold 106 million barrels of oil, 11.8 billion cubic metres of gas and 3.2 million tonnes of natural gas liquids (NGL), which will be produced by using a fixed production facility and a storage vessel.

Oil will be exported via shuttle tankers, and gas will be sent to the Sleipner A platform for final processing.

The other partners in the field include Total, Kuwait's KUFPEC, Poland's PGNiG and Norway's Aker BP.

Norwegian oil start-up Okea has agreed to buy Total's 15 percent stake in Gina Krog for $350 million, Norwegian financial daily Finansavisen reported on Tuesday.

Both Total and Okea have declined to comment.

(Reporting by Nerijus Adomaitis; editing by Jason Neely)



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