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February 18, 2014
06:35 EDTSTOStatoil combines gas trading operations, liquids unit, Bloomberg says
Statoil plans to combine its gas-trading operations with a liquids division that buys and sells crude, condensate, refined products and gas liquids starting on May 1, according to Bloomberg, citing the company's executive vice president for marketing, processing and renewable energy Eldar Saetre. Reference Link
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February 13, 2015
06:23 EDTSTOStatoil, partners to submit plans for Johan Sverdrup development
Statoil and its partners will submit the plan for development and operation for Johan Sverdrup, phase one, to the Norwegian Ministry of Petroleum and Energy. The capital expenditures for phase one are estimated at NOK 117B and the expected recoverable resources are projected at between 1.4-2.4 billion barrels of oil equivalent. For the full field development, capital expenditures are estimated at some NOK 170-220B with recoverable resources of between 1.7-3.0 billion barrels of oil equivalent. The Johan Sverdrup oil field is planned to be developed in several phases, Phase one consists of four bridge-linked platforms, in addition to three subsea water injection templates. The ambition is a recovery rate of 70%, with advanced technology for increased oil recovery in future phases taken into account. The development in phase one has a production capacity in the range of 315,000-380,000 barrels per day. First oil is planned for late 2019. The partnership, consisting of Statoil, Lundin Norway, Petoro, Det norske oljeselskap and Maersk Oil, has recommended Statoil as the operator for all phases of the field development and operation. The majority of the partnership has asked the Norwegian Ministry of Petroleum and Energy to determine the final allocation of resources in Johan Sverdrup, based on the following proposal: Statoil 40.0267%, Lundin Norway 22.12%, Petoro 17.84%, Det norske oljeselskap 11.8933% and Maersk Oil 8.12%. The majority’s proposal for the allocation of resources is valid until the Norwegian Ministry of Petroleum and Energy decides the final allocation. In addition to the PDO the project will also submit two plans for installation and operation for pipeline transportation and the development of power from shore solution.

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