Exxon Tries to Put the Worst Behind it With $20 Billion Writedown
By Jennifer Hiller HOUSTON, Nov 30 (Reuters) – Exxon Mobil Corp on Monday said it would write down the value of natural gas properties by $17 billion to $20 billion,...
40 days after leaving Samsung Heavy Industries, the 9,750-ton topsides structure for the Valemon platform offshore Norway was suspended in the air below the giant cranes on board the Saipem 7000 heavy lift crane vessel.
Statoil notes this is the first topsides ever built for them in South Korea.
“This is a major milestone for the project, the most important milestone of course being start-up towards the end of the year,” says Bjørn Laastad, vice president for Valemon field development.
The lift took two hours to complete thanks to “almost perfect lifting conditions,” according to Viktor Nilsen-Nygaard, head of Valemon transportation and installation.
The Valemon field is a gas and condensate field in the North Sea, between Kvitebjørn and Gullfaks South. It is located approximately 160 kilometers west of Bergen with estimated recoverable reserves of 192 million barrels of oil equivalent.
According to Statoil, three wells will be producing when the field comes on stream at the end of the year, however production drilling will continue into 2017.
The platform will be powered via a high voltage cable to shore and the hydrocarbons will be produced via existing pipelines dedicated for gas and condensate, respectively.
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