StatoilHydro sanctions Caesar Tonga development

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

Offshore staff

OSLO -- The Caesar Tonga project has been sanctioned by the StatoilHydro board. The Anadarko-operated 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-operatedConstitution spar. The initial phase of the development will consist of four wells with a combined average production of 40,000 b/d of oil with first oil expected in 2011, the company says.

StatoilHydro has 23.55% working interest in the development. Other co-owners are Shell and Chevron.

04/02/2009

More in Company News