Vale is a producing conventional oil field located in shallow water in Norway and is operated by Spirit Energy Norge. The field is located in block 25/4P (PL 036) and 25/5P (PL 249), with water depth of 380 feet.
Field participation details
The field is owned by Stadtwerke Munchen, Centrica, Polskie Gornictwo Naftowe i Gazownictwo and Grupa Lotos.
Production from Vale
The Vale conventional oil field recovered 49.86% of its total recoverable reserves, with peak production in 2015. The peak production was approximately 4.67 thousand bpd of crude oil and condensate and 28 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2066.
Remaining recoverable reserves
The field is expected to recover 29.81 Mmboe, comprised of 14.31 Mmbbl of crude oil & condensate and 92.98 bcf of natural gas reserves. Vale conventional oil field reserves accounts 0.01% of total remaining reserves of producing conventional oil fields globally.
Methodology
Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.