Statoil lifts Glitne recovery threshold

Statoil expects to double output from Glitne in the North Sea when the field's latest development well comes onstream this October.

Offshore staff

STAVANGER, Norway --Statoil expects to double output from Glitne in the North Sea when the field's latest development well comes onstream this October.

Glitne has been developed using thePetrojarl I production ship. At start-up, four wells were in production. Current output is 7,000 b/d of oil. The Maersk Inspirer will drill the new (seventh) well this summer.

Statoil believes it can recover nearly 50 MMbbl from Glitne, almost twice the original reserves estimate. The field should remain in production through 2009.

4/20/2007

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