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Statoil shuts North Sea Glitne field due to production decline

by on November 1, 2012 2:06 am GMT
 

Statoil shuts North Sea Glitne field

BY KATARINA GUSTAFSSON

Statoil announced it will close the Glitne field in the North Sea after its lifetime has been extended several times and said the field has produced the double of what was originally estimated.

The field, which was discovered in 1995 and came on stream in 2011 was initially expected to produce for around three years but through a number of process and well measures and the drilling of new wells, its lifetime has been extended several times.

The field’s total output has amounted to 55 mb, which is more than double the original estimate.

Statoil owns a 5.9% stake in the field with Faroe Petroleum , Det Norske Oljeselskap , Total E&P Norge owning the rest.

Dow Jones Newswires

11/01/2012