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Åsgard passes 10 mill barrels

September 17, 1999, 10:00 CEST

Ten million barrels of oil worth more than NOK 1.6 billion have been recovered from Åsgard since it began producing on 19 May.

This milestone was passed on 15 September by the Åsgard A production ship on the Statoil field in the Norwegian Sea. Daily output currently stands at 163,500 barrels.

The production build-up has been rather slower than planned, reports operations manager Ola Krumsvik.

These delays reflect technical challenges in the start-up phase, including problems with two compressors for reinjecting gas into the reservoir.

"However, we're committed to hitting our production target of roughly 28 million barrels of oil for the year," says Mr Krumsvik.

Fourteen production wells have so far been completed on Åsgard, and extensive installation work is still under way on the field.

Two rigs are currently drilling and completing wells there, and the drilling programme is due to run until 2002.