Statoil's Valemon Gas Field Offshore Norwegian Sea Goes On Stream

Statoil and its partners have brought the Valemon gas and condensate field on-stream.

Located between production license 050 and 193 in the Norwegian Sea, the Valemon high-pressure, high-temperature field, has estimated recoverable reserves of 192 million barrels of oil equivalent.

Valemon is one of several new projects on the Norwegian continental shelf that will help add value, activity and innovation, demonstrating well the long-term perspective that characterises Statoil’s activity on the Norwegian continental shelf,” commented Arne Sigve Nylund, executive vice president for Development and Production Norway.

Condensate from Valemon will be piped to Kvitebjørn for processing, and from there to Mongstad, whereas the gas will be sent to Heimdal for processing, and then transported to the market.

Heimdal, which was scheduled to be shut down in 2014, will thus get extended life as a gas hub in this part of the North Sea thanks to Valemon.

The Valemon platform will be Statoil’s first platform remotely controlled from shore, turning into a “normally unmanned platform” when the drilling on the field is completed in 2017.

The Valemon field development project is expected to total NOK22.6bn ($2.96bn).

Statoil Petroleum A/S is the operator of the field with a 53.77% interest, together with Petoro AS (30%), Centrica Resources (13%), A/S Norske Shell (3.23%).