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Statfjord Field, Norway, Commercial Asset Valuation and Forecast to 2022 Now Available at ReportsandReports


The Statfjord field is located on Blocks 33/9 and 33/12 in the Tampen area of the northern sector of the North Sea. The field is approximately 220km north west of Bergen in east Shetland Basin, Norway. It lies in the border region of Norway and the UK. The Statfjord field is the largest field in the North Sea.

Dallas, TX, October 27, 2010 --(PR.com)-- ReportsandReports announce Statfjord Field, Norway, Commercial Asset Valuation and Forecast to 2022 Market Research Report in its Store.

Browse the complete Report at: Statfjord Field, Norway, Commercial Asset Valuation and Forecast to 2022 http://www.reportsandreports.com/reports/28770-statfjord-field-norway-commercial-asset-valuation-and-forecast-.html.

Report Summary
The Statfjord field is located on Blocks 33/9 and 33/12 in the Tampen area of the northern sector of the North Sea. The field is approximately 220km north west of Bergen in east Shetland Basin, Norway. It lies in the border region of Norway and the UK. The Statfjord field is the largest field in the North Sea. The field is at a water depth of around 490 feet (150m) and the reservoir is at a depth of 8,202 to 9,843 feet (2,500 to 3,000m). The total area under the field is approximately 580 km sq. The field is operated by Statoil Petroleum AS which is the largest operator in the Norwegian continental shelf. It is involved in areas such as gas treatment, crude oil reception, refinement and methanol production. In addition to this the company is also responsible for the sale and distribution of energy products. The production at Statfjord field started in 1979.

The field is owned by seven equity partners. These equity partners are Enterprise Oil Norge AS, ConocoPhillips (UK) Limited, A/S Norske Shell, Centrica Resources Limited, ConocoPhillips Skandinavia AS, ExxonMobil Exploration & Production Norway AS and Statoil Petroleum AS. The majority of the stake is held by the operator of the field, Statoil Petroleum AS (33.3169%).

Statfjord produces crude oil, natural gas and condensate. However towards the end of the field’s life Statfjord has been declared a natural gas field. The crude oil in the field has an API gravity ranging between 38º to 40º API and has a sulfur content of around 0.22%.

The production at Statfjord field started in 1979 from platform A and continued with the development of platform B in 1982 and Platform C in 1985. The field has produced around 3.53 billion barrels of crude oil, 2,154.92 bcf (billion cubic feet) of natural gas and 165.86 m boe (barrels of oil equivalent) of Natural Gas Liquids (NGL) till year 2009. The current production (2010) of the field is estimated to be 11.35m barrels of crude oil, 83.91 bcf of natural gas and 5.61m boe of NGL.

The life of the field is expected to be around 44 years with complete abandonment by 2022. The field is expected to generate 12.44 billion in revenues (undiscounted) during its remaining life (starting January 1, 2010) and is expected to yield an IRR (Internal Rate of Return) of approximately 12.57%.

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Original Source: Commercial Asset Valuation Market
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