Statoil contracts A-K for Gjoa FEED

Statoil may submit development plan for Gjoa field in North Sea, following front-end design by Aker Kvaerner

Jan 26th, 2006

I>Offshore staff

(Stavanger) Statoil has issued a front-end engineering contract for its long-awaited Gjoa field development in the Norwegian North Sea. The preferred solution involves a semisubmersible production platform with subsea wells.

Work will be undertaken by Aker Kvaerner Engineering & Technology, with a development plan possible submitted to the Norwegian authorities this fall. Gjoa lies in two blocks, 70-km north of the Troll field. Its recoverable reserves are estimated at 60 MM bbl of oil/condensate and 35 bcm of gas. Assuming approval, the field could be onstream in 2010, at which point partner Gaz de France would take over as production operator.

1/26/06

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