By OGJ editors
HOUSTON, Nov. 24 -- Petroleum Geo-Services ASA subsidiary Pertra AS, operator of Varg field on Block 15/12 (Production License 038) in the Norwegian North Sea, plans to continue operating the field at the lower rate of 15,000 b/d until the main production riser can be replaced in March 2005. This will require the manufacture and installation of a riser.
Revenues for PGS' Petrojarl Varg floating, production, storage, and offloading vessel, which is used to produce Varg field, also will be reduced because of the lower production.
Pertra AS holds a 70% interest in Production License 038, while Norway's Petoro AS holds 30%.
