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Shell to take reins of vast gas field off Norway

 

 

LONDON
Petroleumworld.com 11 30 07

Anglo-Dutch energy giant Royal Dutch Shell said Thursday that it would soon become project operator for the huge Ormen Lange gas field off the coast of Norway.

Norwegian energy giant StatoilHydro will hand over management of the facility on Saturday to Shell, under the terms of a deal agreed with the Norwegian Ministry of Petroleum and Energy in 1999.

"On 1 December 2007, Norske Shell (Shell) will assume responsibility for operations on the recently opened Ormen Lange gas field," Shell said in an official statement.

The facility will pump gas through the 1,200-kilometre (750-mile) underwater Langeled pipeline, with daily export capacity of 70 million cubic meters of gas and 50,000 barrels of oil.

The pipeline line will meet 20 percent of Britain's natural gas needs for up to 40 years.

Ormen Lange, believed to contain recoverable reserves of 397 billion standard cubic metres of gas, came on stream in early October.

"Until the handover Norsk Hydro led the Ormen Lange development while Shell was responsible for well delivery, subsurface and operations readiness," Shell added.

"As field operator, Shell will manage the second phase of the field development, where additional subsea templates will be installed, more gas wells drilled and a concept for field compression developed."

Shell owns 17.04 percent of the offshore field, while StatoilHydro owns a 28.91-percent stake.

Other partners include Norwegian energy firm Petoro (36.48 percent), Danish group DONG Energy and (10.34 percent) and US giant ExxonMobil (7.23 percent).

Story from AFP 29 1730 GMT 11 07

Copyright© 2007 Petroleumworld. All rights reserved.

 

 

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