Transfer of operatorship for Tampen fields brought forward

September 13, 2001, 01:00 CEST

The transfer of the Tampen fields operatorship from Hydro to Statoil has been brought forward to Jan. 1, 2003, half a year earlier than planned. This step will increase value creation for Hydro, Statoil and partners.

"The timing is optimal with regard to recruitment to other Hydro platforms, and means that the interim period for Statoil employees, who will take over vacant positions in Hydro in connection with the transfer, will be as short as possible. Transferring at an earlier date will also reduce uncertainty for the employees who are affected by the transfer.

"It will mean maximum value creation for Hydro, Statoil and partners. Altogether this will direct focus on safe and efficient operations," says senior vice president for the Tampen business area, Tor Skjærpe.

Statoil has agreed to the date being brought forward, and the Norwegian Petroleum Directorate has also been informed. Plans are currently being adjusted to ensure a successful transfer of operatorship within the new time frame.

Union support

Kurt Høyland, leader of the Norwegian Oil and Petrochemicals Workers Union (NOPEF) in Hydro Stavanger, also supports bringing the date forward for Statoil's takeover of Tampen.
"We support the earlier takeover. We believe it's positive that the interim period is shortened, and that the situation for the employees involved will be clarified sooner."

The operatorship transfer covers the oil installations Snorre TLP, Snorre B and Visund, the Tordis and Vigdis installations and the exploration area PL 057. The transfer is part of the agreement Hydro entered into with Statoil in 1999, in connection with its acquisition of Saga Petroleum.