Statoil to invest $642m to develop Askeladd field in Barents Sea

Norwegian firm Statoil and its partners have decided to invest over NOK5bn (($642m) to develop the Askeladd field, which is part two of the multi-phased Snøhvit development in the Barents Sea.
The Askeladd field is expected to supply 21 billion cubic meters of gas and two million cubic meters of condensate to the LNG plant at Melkøya in Hammerfest.
Scheduled to commence production by the end of 2020, the Askeladd field is planned to be developed with three wells through two new subsea templates. It will have space for additional wells in the future.
Statoil project development senior vice-president Torger Rød said: “This is the next step in the development of Snøhvit.
“Askeladd will help maintain a plateau production rate at the Hammerfest LNG plant until 2023 and is a profitable investment that will help secure jobs and ripple effects in the region.”


Statoil said that an infrastructure is also planned to be installed to tie-in the Askeladd development to existing Snøhvit field infrastructure.
Statoil operation north senior vice-president Siri Espedal Kindem said: “Operation of Hammerfest LNG at Melkøya requires new, profitable gas volumes to be phased-in at the right time in the period leading up to 2050.”
Apart from Askeladd field, the Snøhvit development comprises the Snøhvit and Albatross fields which came on stream in 2007.
Statoil operates the Snøhvit development with 36.79% stake while other partners include Petoro with 30% stake, Total with 18.40% interest, Neptune Energy Norge with 12% stake and DEA Norge with 2.81% interest.
Hammerfest LNG acting production director Per Henry Gonsholt said: “The Snøhvit license contains enough gas to maintain production beyond 2050, and Hammerfest LNG will provide jobs for many years to come.”
Earlier this year, Aker Solutions was awarded engineering, procurement and construction (EPC) contracts to deliver subsea production systems and services for the Troll Phase 3 and Askeladd fields.
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