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

25/05/2017 09:12 Oil Market

news

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.


 

Ukrainian power player hits 1GW milestone

19/11/2019 09:12:00

Ukraine developer DTEK has reached 1GW of online renewables capacity after completing the 100MW Orlivska wind farm in the Zaporizhzhia region of its home market.

<READ MORE

World's largest green-hydrogen plant begins operation in Austria

19/11/2019 09:09:00

The world’s largest green-hydrogen production facility has commenced operations in Austria, “setting an international milestone in the advancement of new energy supply options”, according to the project partners.

READ MORE

Chevron, Total, Shell others to divest $27 billion assets

19/11/2019 09:01:00

International Oil Companies (IOCs), including ExxonMobil, Chevron, BP, Total, Shell, and ConocoPhillips are planning to sell assets worth $27.5 billion in bid to invest in new regions, new research by Rystad Energy has said.

READ MORE