Vale gas field
Encyclopedia
Vale is an offshore gas field
in the North Sea
located 16 km (9.9 mi) north of the Heimdal gas field
. The depth of the water in the field area is 115 metres (377.3 ft). Vale is considered a satellite to Heimdal field and is connected to it by a pipeline.
Estimated reserves at Vale stand at 2.5 billion cubic meters (bcm) of natural gas and 21 Moilbbl of gas condensate. Vale gas field is expected to produce 1.6 million Sm3 and 2,600 barrels of condensate per day. Production was started on 31 May 2002, according to the Plan for Development and Operation approved by Norway in the spring of 2001.
(28.85%) with Centrica
holding 46.90% and TotalFinaElf Exploration Norge AS
– 24.24%.
Total investment has been 800 million NOK
which also included modifications on Heimdal, drilling operations, subsea templates and pipelines.
Natural gas field
Oil and natural gas are produced by the same geological process according fossil fuel suggestion: anaerobic decay of organic matter deep under the Earth's surface. As a consequence, oil and natural gas are often found together...
in the North Sea
North Sea
In the southwest, beyond the Straits of Dover, the North Sea becomes the English Channel connecting to the Atlantic Ocean. In the east, it connects to the Baltic Sea via the Skagerrak and Kattegat, narrow straits that separate Denmark from Norway and Sweden respectively...
located 16 km (9.9 mi) north of the Heimdal gas field
Heimdal gas field
Heimdal is an offshore natural gas field in the North Sea located northwest of the Stavanger, Norway. Heimdal serves as a connection hub for processing and distribution of natural gas from satellite fields....
. The depth of the water in the field area is 115 metres (377.3 ft). Vale is considered a satellite to Heimdal field and is connected to it by a pipeline.
Estimated reserves at Vale stand at 2.5 billion cubic meters (bcm) of natural gas and 21 Moilbbl of gas condensate. Vale gas field is expected to produce 1.6 million Sm3 and 2,600 barrels of condensate per day. Production was started on 31 May 2002, according to the Plan for Development and Operation approved by Norway in the spring of 2001.
Ownership
The Vale field is operated by StatoilStatoil
Statoil ASA is a Norwegian petroleum company established in 1972. It merged with Norsk Hydro in 2007 and was known as StatoilHydro until 2009, when the name was changed back to Statoil ASA. The brand Statoil was retained as a chain of fuel stations owned by StatoilHydro...
(28.85%) with Centrica
Centrica
Centrica plc is a multinational utility company, based in the United Kingdom but also with interests in North America. Centrica is the largest supplier of gas to domestic customers in the UK, and one of the largest suppliers of electricity, operating under the trading names "Scottish Gas" in...
holding 46.90% and TotalFinaElf Exploration Norge AS
Total S.A.
Total S.A. is a French multinational oil company and one of the six "Supermajor" oil companies in the world.Its businesses cover the entire oil and gas chain, from crude oil and natural gas exploration and production to power generation, transportation, refining, petroleum product marketing, and...
– 24.24%.
Total investment has been 800 million NOK
Norwegian krone
The krone is the currency of Norway and its dependent territories. The plural form is kroner . It is subdivided into 100 øre. The ISO 4217 code is NOK, although the common local abbreviation is kr. The name translates into English as "crown"...
which also included modifications on Heimdal, drilling operations, subsea templates and pipelines.
See also
- Heimdal gas fieldHeimdal gas fieldHeimdal is an offshore natural gas field in the North Sea located northwest of the Stavanger, Norway. Heimdal serves as a connection hub for processing and distribution of natural gas from satellite fields....
- Oseberg Transport SystemOseberg Transport SystemOseberg Transport System is a pipeline system in western Norway. It is long and runs from Oseberg, Veslefrikk, Brage, Frøy and Lille-Frigg to Sture terminal, located north of Bergen, Norway. The operation of the pipeline was commenced in 1988...
- Grane oil fieldGrane oil fieldGrane is an offshore oil field in the North Sea located west of the city of Haugesund on the western coast of Norway. It is Norway's first heavy crude oil production field and Statoil's largest heavy oil field. The oil from the field, located in Block 25/11 is transported to Sture terminal via...
- Oseberg oil fieldOseberg oil fieldOseberg is an offshore oil field with a gas cap in the North Sea located northwest of the city of Bergen on the southwestern coast of Norway....
- North Sea oilNorth Sea oilNorth Sea oil is a mixture of hydrocarbons, comprising liquid oil and natural gas, produced from oil reservoirs beneath the North Sea.In the oil industry, the term "North Sea" often includes areas such as the Norwegian Sea and the area known as "West of Shetland", "the Atlantic Frontier" or "the...
- Economy of NorwayEconomy of NorwayThe economy of Norway is a developed mixed economy with heavy state-ownership in strategic areas of the economy. Although sensitive to global business cycles, the economy of Norway has shown robust growth since the start of the industrial era...