Statoil revises Kristin drilling

Statoil has put forward a new strategy for drilling the high-pressure, high-temperature Kristin reservoir in the Norwegian Sea, currently under development through a semisubmersible.

May 6th, 2004

Statoil has put forward a new strategy for drilling the high-pressure, high-temperature Kristin reservoir in the Norwegian Sea, currently under development through a semisubmersible. According to Nina Udnes Tronstad, Operations vice president for the project, continuing uncertainty over flow performance from the main Garn reservoir means that five of the 12 development wells will now have to be drilled horizontally. Although this will lengthen and increase the cost of the drilling program, it will safeguard the partners against disappointing flow from individual wells.

The new budget for the project is put at NKr18.9 billion, NKr1.7 billion up on the 2001 plan. This figure also takes into account higher associated costs for the platform and subsea installations. Kristin is due onstream in October 2005.

05/06/04

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