Statoil gets green light for Gina Krog

Multinational

OSLO, May 24, 2017 – Production operations at Statoil’s Gina Krog field received approval by the Norwegian Petroleum Directorate today.

Located 30 kilometres northwest of the Sliepner field in Norway, the offshore field contains estimated reserves of 106 million barrels of oil, 11.8 bcm (417 bcf) of gas and 23.5 billion barrels of NGLs. The field was discovered in 1974.

A mobile jackup rig will be used in the operation. Liquids will be exported by tanker and gas will be delivered to the Sliepner A platform for processing.

The field is operated by Statoil with a 58.7% stake. Partners in the project include Total, Kuwait Foreign Petroleum Exploration Company, Poland’s Polskie Górnictwo Naftowe i Gazownictwo and Aker BP.

A preliminary move towards buying Total’s 15% share in the project for USD 350 million has been made by Norwegian start-up Okea, Norwegian media reported yesterday.

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