Gudrun field development

Satoil has been given approval for development of the Gudrun oil and gas field, located about 55km north of Sleipner oil field off Norway. The Norwegian Parliament approved the group’s development plan based on a fixed steel platform connected by pipeline to Sleipner facilities. Water depth in the field, discovered in 1974, is 110m. Statoil, operator with 46.8% interest, estimates reserves at 11.2 million standard cu m of oil and 6.6 billion standard cum of natural gas in a high-pressure Jurassic sandstone at 4200-4700m. Partners are Marathon Petroleum 28.2% and GDF Suez 25%. Statoil expects production to start at undisclosed rates in 2014. Initial processing will occur on the 16-slot, 7400tn Gudrun platform, to be installed in the summer of 2011. Drilling will begin in October 2011.

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