The Minister of Petroleum and Energy, Olav Akselsen, conducted the official opening of the Åsgard field on the Halten Bank today, 7 June.
“The development of Åsgard signifies the opening of the Norwegian Sea as a new gas province,” said Mr Akselsen in his speech on the Åsgard B platform.
The inauguration ceremony marks the end of the most complicated subsea development ever carried out in the international oil and gas industry.
Chief executive Olav Fjell says that Åsgard will help to supply European daily energy needs for many years, and will also strengthen Norway’s position as one of Europe’s leading suppliers of natural gas.
“Åsgard will also be an important centre for the treatment of oil and gas from other fields in these waters,” says Mr Fjell.
The development comprises:
* The Åsgard field: an extensive system of wells and pipelines, the oil production vessel Åsgard A, the gas platform Åsgard B and the storage vessel Åsgard C.
* The 707- kilometre Åsgard Transport trunkline which links gas producing fields in the Norwegian Sea to Kårstø north of Stavanger and the consumer markets in Europe.
* The gas treatment complex at Kårstø
* Europipe II, a 650-kilometre pipeline extending from Kårstø to existing land facilities near Dornum in Germany.
The development cost NOK 65.7 billion. Despite a significant increase in costs, the Åsgard project will provide considerable earnings.
Oil production began on 19 May 1999, and gas production started on 1 October 2000. Condensate has been stored on Åsgard C since 25 May 2000.
See also the press release.