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StatoilHydro starts Volve oil and gas production

Uchenna Izundu
International Editor

LONDON, Feb. 13 -- StatoilHydro AS has begun oil and gas production from Volve field in the Norwegian North Sea from the large Maersk Inspirer jack up rig, while Navion Saga will be used as a storage vessel for further transport.

Gas will be exported from the Sleipner A platform. The company drilled eight wells to develop reserves of 78.6 million bbl of oil and 1.5 billion cu m of gas. An additional five wells are planned.

Volve production, which will continue for 4-5 years, is expected to plateau at 50,000 b/d by the end of first quarter 2009.

Volve is 200 km west of Stavanger in the southern section of the Norwegian continental shelf. StatoilHydro has a 59.6% interest in the field and has partnered with ExxonMobil Corp. 30.4% and PA Resources 10%.

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