World of Oil ///

StatoilHydro received a green light from Norway for the $240 million Yttergryta development, with first gas set to flow next year. Yttergryta, which lies in the Norwegian Sea, will pump about 61.8 billion cubic feet of gas. “Yttergryta will take advantage of existing infrastructure and increase production in the tail-end phase at Aasgard B” platform, the Energy Ministry said in a statement. Kazakhstan’s government will regain control of producer MangistauMunaiGaz, which was sold to Indonesian company Medco nine years ago. “I am issuing instructions to complete the purchase of no less than 51% of shares in MangistauMunaiGaz by the state,” Kazakh Prime Minister Karim Masimov said. A group led by Sonatrach, Algeria’s state energy giant, signed a production-sharing agreement with Libya’s National Oil Corporation. The deal provides for exploration and production sharing at Block 95/96 in the Ghadames Basin near the Algerian-Libyan border.

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