StatoilHydro expects increase of 600,000 b/d from NCS by 2015

>"New field projects and actions to increase oil and gas production are expected to add 600,000 b/d to StatoilHydro's production from the Norwegian continental shelf (NCS) by 2015," Hege Marie Norheim, StatoilHydro's head of reserves and business development for the Norwegian continental shelf, told ONS today.

STAVANGER, Norway --"New field projects and actions to increase oil and gas production are expected to add 600,000 b/d to StatoilHydro's production from the Norwegian continental shelf (NCS) by 2015," Hege Marie Norheim, StatoilHydro's head of reserves and business development for the Norwegian continental shelf, told ONS today.

New field development projects are designed to add 300,000 boe/d in 2015. StatoilHydro is working on field development plans for. the Gudrun, Trestakk, Valemon, Astero, Peon, Luva, Lavrans, and Dagny fields, Norheim said.

At the same time projects to enhance the recovery from fields that are already on stream will account for 40-50% of the company's total new production on the NCS in the next five-10 years.

"Enhanced recovery and extension of the life of fields and facilities on stream are critical to maximizing the value of the petroleum resources on the NCS. Fields such as Gullfaks, Oseberg, Grane, Sleipner West and Tune will be key contributors towards our ambitions for improved oil recovery from existing fields. We are thus currently maturing 600 MMboe of new reserves, the equivalent of a new Norne field," Norheim maintains.

The company plans to drill some 80 new production wells and some 35 exploration wells on the NCS this year.

So far in 2008, StatoilHydro has submitted PDOs for three development projects; Yttergryta, Morvin and further development of the Troll field. Six new fields have been put onstream on the NCS so far this year; Gulltopp, Oseberg Gamma Main Statfjord, Vigdis East, Theta Cook, Oseberg Delta, and Vilje.

08/27/2008

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