StatoilHydro Gives Go-Ahead for Caesar Tonga Devt in GOM

The Caesar Tonga Project has been sanctioned by the StatoilHydro board.

The Anadarko operated Caesar Tonga development consists of three discoveries, Tonga and Tonga West, which were acquired in 2005 as part of the EnCana acquisition, and Caesar, which was acquired from Plains in 2006.

The three discoveries have been combined into one project to be developed as a subsea tie-back to the Anadarko operated Constitution Spar. StatoilHydro has 23.55% working interest in the development. Other co-owners are Shell and Chevron.

"We are very excited to start another development in this promising area," said StatoilHydro's asset manager Randy Perry.

"Caesar Tonga is located just south of the Tahiti development, which will come on stream this summer.

"We are expecting similar sand qualities which should give us good recovery rates from the field," he added.

The initial phase of development will consist of four wells with a combined average production of 40,000 BOPD with first oil expected in 2011.

This will be the first project which StatoilHydro's Houston office has moved from exploration to execution.

West Tonga Discovery

In December 2007, Anadarko Petroleum announced that it made an oil discovery at the West Tonga prospect on Green Canyon block 726 in the deepwater Gulf of Mexico.

The discovery well, located in approximately 4,700 feet of water, was drilled to a total depth of 25,680 feet and encountered over 350 feet of net oil pay in three high-quality subsalt Miocene sands.

The well was drilled by Diamond Offshore's semisub, Ocean Valiant.

Constitution Spar

As part of the Constitution field development sanctioned in 2004, the Constitution Spar, 100% owned by Kerr McGee, is located in Green Canyon Block 680 in the Gulf of Mexico.

The truss spar first came on stream in 2006 and produces at a rate of 40,000 b/d and 75MMcf/d.



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