Deal on Sygna operatorship

September 25, 1998, 01:00 CEST

The Sygna field off Norway will be developed and produced by Statoil under an agreement signed with Saga Petroleum today.

This North Sea discovery straddles the boundary line between two production licences operated by Statoil and Saga respectively, with reserves split roughly 50-50 between blocks 33/9 and 34/7.

Estimated to contain 60-70 million barrels of recoverable oil, Sygna will be developed with a subsea production solution tied back to Statfjord C about 21 kilometres away.

Due to begin producing on 1 August 2000, the field should yield some 40,000 barrels of oil per day at plateau.

Statoil is due to submit a plan for development and operation of Sygna to the Norwegian authorities in November.

"This agreement means new production being tied back to the C platform," says Statfjord operations vice president Kåre Røsandhaug, who is very satisfied with the agreement.

"By improving utilisation of this installation's process facilities, Sygna will make an important contribution to our ambition of keeping it in operation until 2020."

He adds that the field will offer the Statfjord operations organisation new and interesting assignments.