HOUSTON -- The Alvheim development offshore Norway has achieved first production, according to Marathon Oil. The company expects the combined Alvheim and Vilje projects to reach peak net production of approximately 75,000 boe/d by early 2009.
"Alvheim is a new oil hub for the Norwegian Continental Shelf; and along with nearby satellite fields, it will contribute significantly to Marathon's defined production growth profile through 2012 and beyond," says David E. Roberts, Jr., Marathon executive VP of upstream. "With the commissioning of this significant FPSO vessel, we are now focused on ramping up production and maximizing the full resource potential of our holdings in the region."
The Alvheim and Vilje developments are estimated to contain gross resources of approximately 250 MMboe.