Norway issues gas sales contracts for Sigyn, Kristin fields

Norway's Ministry of Petroleum & Energy Thursday allocated gas sales contracts to ExxonMobil Corp. for its Norwegian North Sea Sigyn development, and Statoil AS for its Kristin field in the Norwegian Sea. Running from 2002 to 2016, deliveries from the fields will total 33.5 billion cu m of gas.


By the OGJ Online Staff

LONDON, June 28 -- Norway's Ministry of Petroleum & Energy Thursday allocated gas sales contracts to ExxonMobil Corp. for its Norwegian North Sea Sigyn development, and Statoil AS for its Kristin field in the Norwegian Sea.

Running from 2002 to 2016, deliveries from the two fields will total 33.5 billion cu m of gas. Sigyn will supply 2.3 billion cu m in 2002 and 2003 of the contract with Kristin providing the remainder between 2005 and the end of the delivery period.

Statoil's Øyvind Bratsberg, production vice-president for Kristin, said the allocation will be important for the future development of the Halten Bank South area, which also encompasses fields such as Lavrans and Tyrihans.

Statoil plans to submit a plan for development and operation of Kristin to the Norwegian authorities in early August. According to the company, a PDO for Sigyn is also expected soon.

Apart from Statoil, which has a 46.6% stake in Kristin, the other partners in the field are Petoro (formerly the state's direct financial interest) with 18.9%, Norsk Hydro AS 12%, ExxonMobil Corp. 10.5%, Agip SPA 9%, and TotalFinaElf SA 3%. Statoil has a 50% interest in Sigyn. ExxonMobil has 40% and Hydro 10%.

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