StatoilHydro takes up residence in UK sector

Offshore staff

STAVANGER, Norway --StatoilHydro has completed an agreement to take on of three heavy oil licenses in the UK North Sea, its first operatorship in this area.

Under the agreement, the company succeeds Chevron as operator of the undeveloped Bressay, Mariner, and Mariner East fields.

It has also concluded a separate agreement with Canadian independents Silverstone and Wilderness concerning a discovery in nearby block 9/16.

StatoilHydro now claims to have a dominant position in around half the UK's proven, undeveloped heavy oil resources, and is aiming for development sanction in 2010. This, though, will depend on the company finding feasible technical and commercial solutions, says Helge Hatlestad, UK vice president.

License responsibility for the projects will transfer formally to the company's London organization on Jan. 1. Over the next two years, it plans to commission sub-surface surveys and to drill up to three wells.

12/19/2007