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Statoil starts production on Stjerne field in North Sea

BY DOMINIC CHOPPING

OSLO -- Statoil said that with its partners it has started up production on the Stjerne field in the North Sea.

Stjerne is the fifth of Statoil' s fast-track projects in production. The project' s economy appears to be better than expected. We are more than $85.7 million below what was foreseen when the investment decision was taken" says Halfdan Knudsen, head of fast-track development in Development & Production Norway.

The recoverable reserves, which shows an increase based on the results from the first well, is now estimated to 49.2 MMboe. Oil constitutes 20.7 MMboe and gas 24.1 MMboe. In addition, the project will lead to increased recovery of 4.4 MMboe from the Oseberg Omega North reservoir. The estimate for total production volume, according to the PDO, is 7,800 boepd.

Dow Jones Newswires

03/25/2013

 

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