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Company Description

Contact Info

Forusbeen 50

Stavanger, 4035


Phone: 47 51 99 00 00

Fax: 47 51 99 00 50

erica. The U.S. Gulf of Mexico: The Julia oil field is located in the Walker Ridge area of the Gulf of Mexico near Jack and St Malo, and will be developed with subsea wells tied back to the shared JSM host facility. First oil is expected within mid-2016. The Heidelberg oil field is located in the Green Canyon area. The development includes a Spar facility and first oil is expected within early-2016. The Stampede oil field is located in the Green Canyon area. The development includes a tension-leg platform (TLP) with downhole gas lift and water injection from start of production. First oil is expected in 2018. The Big foot oil field is located in Walker Ridge area. The development includes a dry tree TLP with a drilling rig. The operator Chevron expects first oil from Big Foot in 2018. Initial plans called for production to start in late 2015, however, installation was halted and the TLP moved to sheltered waters following damage to subsea installation tendons in late May 2015. The U.S. Onshore: The U.S. Onshore operations use hydraulic fracturing to liberate resources. Despite reduction in investment and activity level in recent years in shale plays Bakken, Eagle Ford and Marcellus, production growth continues. Canada: The Hebron field is located in the Jeanne d'Arc basin offshore Newfoundland near the partner-operated producing fields Terra Nova, Hibernia and Hibernia Southern Extension. The Hebron field will be developed using a fixed gravity base structure (GBS) and first oil is expected in 2017. Effective January 2016, the company’s interest in Hebron was reduced from 9.7% to 9.0% due to a redetermination process. The company has made oil discoveries in the Flemish Pass offshore Newfoundland comprising the Bay du Nord project, and work is on-going to assess options for developing this project. The company is the operator of Bay du Nord and holds a 65% working interest. South America In January 2015, the company submitted the Plan of Development (PoD) for Peregrino Phase II project in Brazil. In December 2014, Statoil approved the investment decision for the development of the second phase of the Peregrino oil field. In January 2015 the PoD was submitted to the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP) for approval. Peregrino Phase II project includes the Peregrino South and South West discoveries. The development consists of one wellhead platform tied back to the existing FPSO. Sub-Saharan Africa In Sub-Saharan Africa, the company is participating in the planning and development of Block 2 in Tanzania. Tanzania: The company has made various large gas discoveries in Block 2 offshore Tanzania. Statoil is the operator of Block 2 and holds a 65% working interest. Work is on-going to assess options for developing the discoveries, including the construction of an onshore LNG plant jointly with the co-venturers in Blocks 1, 3 and 4 operated by BG. North Africa In 2015, the company’s field developments in the North Africa were in Algeria. The In Amenas Gas Compression project in Algeria, which is led by BP, was sanctioned in 2010. The compressors are expected to come on stream in the fourth quarter of 2016. This will make it possible to reduce wellhead pressure and maintain plateau production. The In Amenas facilities are operated through a joint operatorship between Sonatrach, BP and the company. In February 2016, the In Salah Gas joint venture announced the start- up of operations at the In Salah Southern Fields project in Algeria. Europe and Asia In Europe and Asia, the company is participating in the planning and development of projects in the U.K. The United Kingdom: The company is the operator for the Mariner heavy oil project. The company made the investment decision to develop the Mariner oil field. The field development plan was approved by the U.K. authorities in 2013. The concept selected includes a production, drilling and quarters platform based on a steel jacket, with a floating storage unit. The company expects production start in 2018. The field development plan for Mariner includes a possibility of a future subsea tie-in of


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Price/Cash Flow 39.7x
TEV/Sales 8.8x

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