Norway: Statoil Hands Over Gjoa Development Operatorship to GDF SUEZ E&P Norge AS

The operatorship of the Gjøa development in the Norwegian North Sea is being handed over by Statoil today, 25 November, to production operator GDF SUEZ E&P Norge AS.

With the ending of this big industrial project, the group is beginning a new phase together with GDF SUEZ of further important production from the Norwegian continental shelf.

“We’re very proud and satisfied with the work done and the results we’re delivering,” says Øystein Michelsen, executive vice president for Exploration & Development Norway.

“Starting up the field from the beginning of November has gone as planned, and we’re handing over a development in stable production.

“The Gjøa platform with its infrastructure is also important for us in the future. This area is very interesting, and we hope the field can play a key role in developing new resources.”

Satellite

Developing and managing resources on the Norwegian continental shelf is Statoil’s most important job, and Gjøa’s Vega satellite is also due come on stream soon.

This gas field is operated by Statoil and developed with subsea solutions tied back to the main development’s floating production platform.

“Both Gjøa and Vega will produce oil and gas for at least 15 years to come,” says Michelsen. “But history teaches us that technology advances and recovery factors constantly rise.

“We’ve accordingly designed the Gjøa installations with a view to the future development of the area, so platform and infrastructure have an operating life of at least 30 years.

“We welcome GDF SUEZ E&P Norge as a production operator on the Norwegian continental shelf. During the development phase, we’ve collaborated well with their organisation and look forward to continuing in the same way.”

Facts:

* The Gjøa project is based on innovative use of known technology which Statoil has much experience with. It involves a semi-submersible production platform and five seabed templates.

* Vega has been developed with three templates tied back to the Gjøa floater.

* Recoverable reserves from Gjøa are 82 million barrels of oil and condensate, and 40 billion cubic metres of gas. For Vega, the estimate is 26 million barrels of condensate and 18 billion cubic metres of gas.

* Statoil has been operator for Gjøa’s development phase, with GDF Suez as the production operator. However, the group remains a partner in the field.

* The Gjøa platform is 45 kilometres from land near the northern boundary of the North Sea.

* Partners in Gjøa are GDF SUEZ (30%), Petoro (30%), Statoil (20%), Shell (12%) and RWE Dea (8%).

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Source:Statoil , November 25, 2010