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Edvard Grieg field development on track

Production from the Edvard Grieg field is scheduled to start in the 4th quarter of 2015. About half of the fabrication is complete to date, and development of the jacket platform is thus proceeding according to plan.

Installation of the jacket constructed by Aker in Verdal will start in April of this year. Work on the deck is ahead of schedule, and most of the equipment modules will be delivered to the yards at Stord and in Egersund in the second quarter 2014.

The pipelines to the field will be installed during the summer of 2014, and the flotel will be ready around the end of September 2014. Mechanical commissioning of the platform will be completed in December 2014. The development is also within the budget of NOK 25 billion.

Lundin Norway is the operator of the Edvard Grieg field, with an ownership interest of 50 per cent. The partners are OMV with 20 per cent, and Wintershall and Statoil with 15 per cent each. The field has recoverable reserves of 186 million barrels of oil equivalents (o.e.), and plateau production will be 100,000 barrels of o.e. per day.