Hydro and Elf join forces to develop minor gas fields Vale, Skrirne and Byggve

Dec 02, 1999 01:00 AM

Hydro and Elf are to join forces to develop three minor gas fields, Vale, Skrirne and Byggve. The three fields will be developed as satellites to the Heimdal field.
This surprise proposal was put forward, as the yearly race for new gas development allocations started. The development is not bound to create breathing space for the ailing onshore industry, however. Total investments are not going to exceed NOK 4 bn, and investments will mainly be in drilling, sub sea templates and pipelines.
Earlier last year, Hydro tried to promote Vale as a separate development, but this venture was blocked by the Vale licence partners. Now Elf, operator for Skirne and Byggve, joins the bid. This means that the field are to be developed en bloc, in three steps. The fields are very small, mere puddles in North Sea terms, and have been put on hold for years due to marginal profitability.
"All of the fields are small. Total reserves do not exceed 12-13 bn cm, with some light oil thrown in. But they may addvaluable resources if connected to the Heimdal platform", Hydro spokesperson Dag Ofstad said.

Source: IINX via Iinoil
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