Milestone on Åsgard

September 22, 2004, 11:10 CEST

Cumulative oil and condensate production from Statoil’s Åsgard field in the Norwegian Sea passed 314 million barrels – 50 million cubic metres – today, 22 September.

Revenue flow since this development came on stream in May 1999 topped NOK 100 billion during September. Total investment in the project was NOK 65.7 billion.

These figures refer to the Åsgard unit, which embraces the Åsgard A production ship, the Åsgard B gas production platform and the Åsgard C storage ship.

The field has the world’s largest subsea production system, embracing 16 seabed templates and 52 wells.

In addition to the oil/condensate milestone, Åsgard has so far exported some 34 billion cubic metres of rich gas to the Kårstø processing complex north of Stavanger.

Roughly 5.3 million tonnes of natural gas liquids – ethane, propane, butane and naphtha – have been extracted from this output.

“The Åsgard unit is now producing with a high level of regularity,” reports senior reservoir and production engineer Tom Haldorsen in the Åsgard resource development entity.

“Daily output is about 163,000 barrels (26,000 standard cubic metres) of oil and condensate, while 36.2 million standard cubic metres of rich gas are exported every day.”

The field is due to produce almost 730 million barrels (116 million cubic metres) of oil and condensate and export 223 billion cubic metres of gas to Kårstø.