Statoil will launch production at Gina Krog oil and gas field in June

25/05/2017 09:12 Oil Market


Norwegian Petroleum Directorate (NPD) declared on Wednesday it has given approval for Statoil to start operations at the Gina Krog oil and gas field in the North Sea.

Operator Statoil, which owns a stake of 58.7 percent, is planning to begin production in June, as it stated.

The NPD's website showed that the field, named after Norwegian suffragist Gina Krog, was previously expected to start in April.

Gina Krog is likely to possess 106 million barrels of oil, 11.8 billion cubic metres of gas and 3.2 million tonnes of natural gas liquids (NGL), which will be produced by using an established production facility and a storage vessel.

Oil will be exported through shuttle tankers, and gas will be conveyed to the Sleipner A platform for ultimate processing.

The other associates in the field comprise Total, Kuwait's KUFPEC, Poland's PGNiG and Norway's Aker BP.

Norwegian oil start-up Okea has decided to acquire Total's 15 percent stake in Gina Krog for $350 million, as reported in the Norwegian financial daily Finansavisen on Tuesday. 

Both Total and Okea have drefused to comment.


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