Det norske’s ‘money-maker’ field delivers its 400th shipment

Norwegian oil exploration and development company Det norske has informed that the Alvheim field in the North Sea has delivered its 400th shipment.

Det norske is the operator of the Alvheim field, with a 65 per cent interest and its partners are ConocoPhillips, with a 20 per cent interest, and Lundin Norway with a 15 per cent interest. The field is located in the central part of the North Sea, close to the UK sector.

Production from the Alvheim field started in June 2008, yielding gross revenues in the amount of approximately NOK 190 billion. The Navion Scandia from Teekay has retrieved another cargo from the Alvheim field, and with cargo number 400, more than 320 million barrels have been shipped from Alvheim, the company said on Tuesday.

In addition, about 20 million oil equivalents of gas have been produced and exported during the same period.

Svein J. Liknes, Vice President Alvheim Asset, comments: “It is the money-maker in the company, enabling us to always move forward to create value on the Norwegian shelf. Alvheim is a value stream – from well to bank.”

According to Det norske, the hose must be hooked up to the tanker twice for every time the oil is being offloaded and this operation has been carried out about 850 times. The oil has been sold to 16 customers in at least nine different countries, including inter alia the US, Japan and South Korea. The oil from Alvheim has been transported across distances equalling about 19 trips around the equator.

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