Marathon Gets Consent to Start-Up Installations at Volund

Marathon Petroleum Norge AS has been granted consent to use Volund. The consent applies to start-up and operation of the installations on the Volund field.

The Volund oil field is located in the North Sea approx. eight kilometers south of Alvheim in block 24/9. The field is part of production license 150. The licensees are Marathon Petroleum Norge AS (operator) and Lundin Norway AS.

A Plan for Development and Operations (PDO) of Volund was approved in January 2007.

The field has been developed with four subsea wells (three for production and one for injection), tied in to Alvheim FPSO. According to Marathon, the wells will produce between 20,000 and 40,000 barrels of oil per day.

Planned production start-up is August 1, 2009.