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NO

16 August 2011

Plan for development and operation for Åsgard subsea handed over to the authorities

PRESS RELEASE: The partnership for Åsgard, of which Eni Norge holds a 14.82 percent share, delivered today plan for development and operation (PDO) for Åsgard subsea gas compression project to maintain the level of the Mikkel and Midgard reservoirs.

The Åsgard subsea gas compression will increase the recovery from Mikkel and Middle Earth by about 278 million barrels of oil equivalents (of which Eni holds a share of 41 million barrels). It makes the project one of the main contributors to the new volumes and provides future opportunities for increased production in several fields. The development will also provide increased capacity utilisation of the Åsgard Transport, the pipeline that transports gas from installations in the Norwegian Sea to Kårstø. 

The Åsgard licence consists of operator Statoil (34.57%), Petoro (35.69%), Eni Norge (14.82%), Total E&P Norge (7.68%) and ExxonMobil (7.24%). 

Eni has been present in Norway since 1965, as one of the first oil companies to be established in the country, with current equity production of approximately 130,000 boe/day. Eni operates in Norway through its subsidiary Eni Norge and is the operator of the ongoing development of the first oil field in the Barents Sea, the Goliat discovery, and of the Marulk gas field in the Norwegian Sea. 

Eni holds a 30 percent share in the recent Skrugard discovery in the Barents Sea, making the company a major player in the region, which includes interests in a total of 10 production licences. 

Furthermore Eni has interests in a number of exploration licences and fields under development and in operation, including among others Norne, Åsgard, Heidrun, Kristin and Mikkel, in addition to Ekofisk. 

Eni Norge is part of the Italian major integrated energy company Eni, having activities in more than 70 countries. 

Press contact: 
Andreas Wulff, Communication manager
Phone: 52 87 49 68
Mobile: 926 16 759
andreas.wulff@eninorge.com