Volund field off Norway to come on stream in 2009

Jan. 19, 2007
Volund oil and gas field, on the Norwegian Continental Shelf 7 miles south of the Alvheim development on Production License 150, will come on stream in the second quarter of 2009, discovery operator Marathon Oil said Jan. 19.

Uchenna Izundu
International Editor

LONDON, Jan. 19 -- Volund oil and gas field, on the Norwegian Continental Shelf 7 miles south of the Alvheim development on Production License 150, will come on stream in the second quarter of 2009, discovery operator Marathon Oil Co. said Jan. 19. Marathon holds a 65% interest in Volund, and Lundin Norway AS has a 35% stake.

Norway has approved Marathon's development plan for the field, which holds estimated gross risked resources of 40-50 million boe. Volund will be a subsea tieback to the Marathon-operated Alvheim floating production, storage, and offloading vessel. The field will include three producing wells and one water-injection well. Oil will be incorporated into the Alvheim blend and exported via shuttle tankers, and associated gas will be exported via the Alvheim-to-SAGE pipeline.

Alvheim will start oil and gas production during the first quarter. It accesses PL 203, PL 088BS, and PL 036C on the Norwegian Continental Shelf. Marathon holds a 65% share. Its partners are ConocoPhillips Norge AS 20% and Lundin Norway AS 15%.

Contact Uchenna Izundu at [email protected].