Statoil Reaches Milestone on Asgard

Cumulative oil and condensate production from Statoil’s Asgard field in the Norwegian Sea passed 314 million barrels – 50 million cubic meters – today, September 22nd.

Revenue flow since this development came on stream in May 1999 topped NOK 100 billion during September. Total investment in the project was NOK 65.7 billion.

These figures refer to the Asgard unit, which embraces the Asgard A production ship, the Asgard B gas production platform and the Asgard C storage ship.

The field has the world’s largest subsea production system, embracing 16 seabed templates and 52 wells.

In addition to the oil/condensate milestone, Asgard has so far exported some 34 billion cubic metres of rich gas to the KArstø processing complex north of Stavanger.

Roughly 5.3 million tons of natural gas liquids – ethane, propane, butane and naphtha – have been extracted from this output.

“The Asgard unit is now producing with a high level of regularity,” reports senior reservoir and production engineer Tom Haldorsen in the Asgard resource development entity.

“Daily output is about 163,000 barrels (26,000 standard cubic meters) of oil and condensate, while 36.2 million standard cubic meters of rich gas are exported every day.”

The field is due to produce almost 730 million barrels (116 million cubic meters) of oil and condensate and export 223 billion cubic meters of gas to Karstø.