Glitne was originally due to shut down production in 2004, with an expected life of three years when Statoil submitted its Plan for Development and Operation (PDO) in 2001. However, new technology and increased knowledge, amongst other things, have extended it to 2014.
“Prolonging Glitne’s life was not a matter of course, and there were many obstacles in the way, of both a contractual and technical nature, as well as access to the rig. Good and long-term efforts by all parties involved now mean these are taken care of,” Det Norske’s Kristin Gjertsen says in a press release.
The four-company partnership comprising Det Norske, operator Statoil, Total, and Faroe, which own license 048 B stakes of 10, 58.9, 21.8 and 9.3 percent, respectively, have signed an agreement to use Teekay’s Petrojarl I floating production, storage and offloading (FPSO) facility.
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