Shell to boost gas recovery from Norway's Ormen Lange field (updated)
UPDATE 1-Shell to boost gas recovery from Norway's Ormen Lange field Adds quote, background in bullet points
OSLO, Oct 9 (Reuters) - Shell's SHEL.L Norwegian subsidiary said on Friday it will launch a new well intervention and drilling campaign at Norway's Ormen Lange gas field to help increase recovery.
The campaign by Shell and its partners is expected to increase recovery by approximately 3.5 billion standard cubic meters of gas over the life of the field, the company said in a statement
"Ormen Lange has been producing for almost 20 years, but there is still room to extract more resources," Shell said
First production from the drilling campaign is expected in 2029, it added
The Ormen Lange field currently has a capacity to produce 22.9 million cubic metres (mcm)of gas per day, according to Norwegian gas export pipeline operator Gassco
Shell holds a 17.8% stake in the field, with other stakes held by Petoro (36.5%), Equinor EQNR.OL (25.3%), Orlen Upstream Norway PKN.WA (14%) and Vaar Energi VAR.OL (6.3%)
(Reporting by Terje Solsvik, editing by Nora Buli)
((terje.solsvik@thomsonreuters.com; +47 918 666 70;))
Recent news on Var Energi ASA
See all newsEurope Research Roundup: Akzo Nobel, Handelsbanken, RS Group
Vaar Energi raises dividend as profit doubles on high oil, gas prices (updated)
Vaar Energi raises dividend as profit doubles on high oil, gas prices
Norway's Var Energi operating cash flow hits $1.5 bln in Q3
Brief: Var Energi Q3 EBIT At $2,214 Mln