Mobil Announces Start-up of Production from the Njord Field in the Norwegian Sea.FAIRFAX Fairfax, city (1990 pop. 19,622), historic seat of Fairfax co., NE Va., a residential suburb of Washington, D.C.; inc. 1892, as a city 1961 (at which time it became independent and no longer included in a county). There is some light manufacturing. , Va.--(BUSINESS WIRE)--Oct. 1, 1997--Mobil Corp. announced Wednesday that production began as planned on the Njord Field, 130 kilometers north of the city of Kristiansund in the Norwegian Sea Norwegian Sea, part of the Atlantic Ocean, NW of Norway, between the Greenland Sea and the North Sea. It is separated from the Atlantic by a submarine ridge linking Iceland and the Faeroe Islands, and from the Arctic by the Jan Mayer Ridge. on Tuesday. Mobil Corp.'s wholly owned affiliate, Mobil Exploration Norway Inc., has a 20-percent interest in the field. The operator of the Njord Field is Norsk Hydro Norsk Hydro ASA (OSE: NHY, NYSE: NHY) is a Norwegian aluminium and renewable energy company, headquartered in Oslo. Hydro is the fourth largest integrated aluminium company worldwide. It has operations in some 40 countries around the world and is active on all continents. . Njord is expected to reach peak production of 70,000 barrels per day Barrels per day (abbreviated BPD, bbl/d, bpd, bd or b/d) is a measurement used to describe the amount of crude oil (measured in barrels) produced or consumed by an entity in one day. ahead of schedule, in early 1998 (Mobil share 14,000 barrels per day). Estimated recoverable reserves are 132 million barrels of oil and between 210 and 350 billion cubic feet of gas. Njord is developed by 15 subsea Subsea is a general term frequently used to refer to equipment, technology, and methods employed to explore, drill, and develop oil and gas fields that exist below the ocean floors. This may be in "shallow" or "deepwater". wells, of which ten are for production, four for gas injection and one for water injection. The wells are connected to a floating production and drilling platform with oil exported via a storage and off-loading tanker. Associated gas will initially be reinjected into the reservoir to support oil production. Eventually the gas will be transported via pipeline to market. The Njord Field is the first of several planned Mobil developments in the Haltenbanken area. The Haltenbanken area is an emerging core area for Mobil in Norway, complimenting our existing Statfjord and Oseberg operations. Other planned developments in the Haltenbanken area include the 2.7 BBOE BBOE Billions of Barrels of Oil Equivalent BBOE Bottom Bottom Opposite End (Radiator Piping Connection) Aasgard field (Mobil 7.35 percent) planned to come onstream in 1998. A development plan for our recent Lavrans (1995) and Kristin (1997) discoveries is expected to be filed in 1998. Lavrans and Kristin (Mobil 15 percent) may be the largest discoveries in the Norwegian Continental Shelf The Norwegian continental shelf is the continental shelf over which Norway exercises sovereign rights as defined by the United Nations Convention on the Law of the Sea. Its major parts are the shelves of the North Sea, Norwegian Sea and Barents Sea, with the sector line in the in the last ten years. In addition, Mobil has a 25 percent interest in the Fram Field which is scheduled for production in 2000. Mobil plans to invest $1.4 billion in the Norwegian Continental Shelf over the next five years. Norway will be a strong contributor to Mobil's goal of profitably growing reserves and production. CONTACT: Mobil Corp. Tom Cooney, +1 703/846-4476 |
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