New Barents Sea Seismic Survey, Valemon Field a Pillar of Norway’s Gas Future

TGS signed a joint venture agreement with Dolphin Geophysical (DOLP) to acquire 4,500 km2 3D multi-client seismic survey in the western part of the Hammerfest Basin, in the attempt to trigger developments in the Barents Sea. 

‘The survey will provide industry with broadband data over APA acreage not previously covered by modern MC 3D. Successful exploration of remaining resources in this area could provide the key to commercial production developments in this part of the Barents Sea’, according to a note released on Thursday.

According to the Norway-based company, the new project will allow the industry to have a 3D survey spanning from the Gotha survey to the Finmark Platform. 

LIEN OPEN VALEMON FIELD IN THE NORTH SEA

Also on Wednesday, Norwegian Energy Minister Tord Lien opened the Valemon gas and condensate field in the North Sea. According to Statoil the recoverable reserves are estimated at 192 million barrels of oil equivalent. 

“Valemon is one of several new projects on the Norwegian continental shelf that contribute to value creation, activity and innovation,” Arne Sigve Nylund, Statoil’s executive vice president for Development & Production Norway, commented in a press release.

Condensate from Valemon will be piped to Kvitebjørn for processing and then transferred to Mongstad. Gas will be shipped to Heimdal.  

“Valemon is thereby extending the life of Heimdal, which was scheduled to be shut down in 2014, as a gas hub in this part of the North Sea,” Nylund said. 

Statoil Petroleum is the operator, with a 53.77% working interest. Petoro AS (30%), Centrica Resources (13%), A/S Norske Shell (3.23%) are the other three partners.