Marathon to Take Reins at Alvheim

Once its service agreement with AP Moller-Maersk A/S is terminated, Marathon will assume management of operations and staffing at the Alvheim field, according to a report by Dow Jones Newswires.

Marathon intends to directly staff and operate the floating production storage and offtake vessel at Alvheim from the second half of 2010, the report noted.

Operated by Marathon with a 65% interest, Alvheim commenced production in June 2008. Alvheim's output has stabilized at 140,000 barrels of oil equivalent per day, more than its designed capacity of 120,000 boepd.

Other partners in Alvheim are Lundin Norway (15%) and ConocoPhillips (20%).