StatoilHydro has a 59.6% interest in the field. The company said that oil from the field will be produced by using Danish firm Maersk’s Inspirer jackup rig, while the Navion Saga will be used as a storage vessel for further transport. The gas produced at the field will be sent to the Sleipner A platform for final processing and export.
Recoverable reserves are estimated at 78.6 million barrels of oil and 1.5 billion cubic meters of gas. Production from Volve is expected to reach plateau production of 50,000 barrels per day by the end of the first quarter of 2009. The Maersk Inspirer rig started drilling the field in the summer of 2007. StatoilHydro completed the processing plant during this period.
StatoilHydro said that it initially decided to develop the field with eight wells but another five wells are already being planned and matured.
