Ekofisk Plan Approved
March 26 2003 - 7:30AM
UK Regulatory
RNS Number:2114J
Total Fina Elf.
26 March 2003
Additional Development Plan Approved for Ekoflsk In Norway
Paris, March 26, 2003 - TotalFinaElf (39.9%) and partners conocophillips
(operator. 35.11%). Agip (12.39%). Norsk Hydro (6.65%). Petoro (5%) and Statoil
(0.95%) have approved the Ekofisk Area Growth Plan for further development on
the PLOIB license in the Norwegian North Sea.
The project calls for stepping up the recovery of oil and gas in place and
increasing the field's processing capacity. A new production and processing
platform, known as 2/4 M. will be built and drilling will start in 2004 on three
of the 25 wells scheduled under the plan. First production is scheduled for late
2005.
Tied into the existing Ekofisk 2/4 J production platform, the 2/4 M platform
will be equipped with facilities including a high-pressure separator and a water
treatment plant. A new electrical network will substantially reduce carbon
dioxide (C02) emissions.
The new investments are in line with TotalFinaElfs strategy of continuing growth
on the Norwegian Continental Shelf where 34% of the company's worldwide
production was located in 2002.
This information is provided by RNS
The company news service from the London Stock Exchange
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