Statoil outlines development plan for Glitne field

Norway's Statoil AS today submitted to the Norwegian Ministry of Petroleum and Energy a plan for the development and operation of Glitne oil field, near Sleipner field on Block 15/5 in the Norwegian North Sea. The plan calls for drilling to begin Oct. 1 and the field to come on stream in the third quarter 2001.


Norway's Statoil AS today submitted to the Norwegian Ministry of Petroleum and Energy a plan for the development and operation of Glitne oil field, near Sleipner field on Block 15/5 in the Norwegian North Sea. The plan calls for drilling to begin Oct. 1 and the field to come on stream in the third quarter 2001.

Statoil has signed a letter of intent with Petroleum Geo-Services ASA for the use of its Petrojarl 1 floating production, storage, and offloading vessel for Glitne. The day rate for the FPSO is expected to average $162,000.

It is estimated Glitne contains 25 million bbl of recoverable oil and will produce for 26 months, at a projected maximum flow rate of 40,000 b/d for the first 15 months.

Total investment for field development is put at roughly 800 million kroner, which includes drilling of three production wells and two water injectors.

Statoil holds 38.9% of Glitne; the state's direct financial interest, 30%; TotalFinaElf SA subsidiary Elf, 21.8%; and Norsk Hydro AS, 9.3%. The group is currently awaiting official approval for its sale of a 10% stake in the field to Det Norske Oljeselskap.

More in Production Operations