Offshore staff

STAVANGER, Norway --Statoil has submitted to the Norwegian government a $4.3 billion development plan for Gjøa field. The project will include subsea systems lined to a moored semisubmersible production facility.

Statoil has contracted Aker Kvaerner to build the $1.27 billion floating production platform with a targeted installation in 2009.

Gjøa is in 350 m (1,148 ft) of water, 45 km (28 mi) from the west Norwegian coast in blocks 35/9 and 36/7. It has estimated reserves of 40 bcm of gas and 83 MMbbl of oil and condensates.

"Statoil's ambition is to produce 1 MMboe/d from Norway in 2015. Gjoa will make an important contribution," said Terje Overvik, Statoil's executive VP for exploration and production. "In addition, it will support future exploration and development in the area."

12/19/2006