Statoil has secured approval from the Norwegian Petroleum Directorate (NPD) to start production from the Gina Krog field in the North Sea.

The company operating the field intends to start production from June this year. The field includes a production facility above the seabed and an oil storage ship in water depths of 110m-120m.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

All oil recovered from the well will be transported through buoy loaders, while the rich gas will be sent to the Sleipner A platform for final processing. Gas for injection will be imported from natural gas transportation system Zeepipe 2A (Gassled).

Statoil plans to tie the field to a joint solution with power supply from shore for the Utsira High.

"The project involves an investment of around $3.71bn."

Gina Krog is expected to contain recoverable reserves of nearly 16.8 million cubic metre of oil, 11.8 billion cubic metres gas, and 3.2 million tonnes of natural gas liquid (NGL).

See Also:

The project involves an investment of around Nkr30.9bn ($3.71bn), which is within the range of uncertainty as listed in the plan for development and operation (PDO) submitted by Statoil.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Statoil holds a 58.7% stake in the project while the remaining interest is owned by other partners, including Total, KUFPEC in Kuwait, Poland's PGNiG and Aker BP in Norway, reported Reuters.

Statoil operates in production licences 029 B, 029 C, 048 and 303.

Image: Gina Krog is developed with a seabed production facility and a storage ship for oil. Photo: courtesy of Norwegian Petroleum Directorate / Statoil.