As per the exchange agreement, Statoil receives 8.2% of Gudrun/Sigrun (PL 025) and Marathon Petroleum receives 10% of the Brynhild prospect (PL 187) and 12.5% of the 15/5-2 find (PL 048) west of Sleipner.
The partners on Gudrun/Sigrun and Brynhild are left with equal shares in the different fields. This is expected to facilitate development of the area as a whole and promote the optimal development of the Gudrun area.
This exchange will give Statoil a 55% share on Gudrun/Sigrun and Brynhild with continuing operatorship, and GDF Suez will obtain 25% and Marathon Petroleum 20%.
The plan for development and operation (PDO) of Gudrun was sent to the authorities on February 23 and was approved on June 16 of this year.
The plan is to develop the platform in the form of a fixed process platform and tie it back to the existing facilities in the Sleipner area and the Karsto process plant in the north of Rogaland county.
The PDO decision for the Sigrun find in the same license is planned for the second half of 2010. Development will take the form of a seabed installation tied back to the future platform on the Gudrun field.
Drilling operations are now taking place on the Brynhild prospect close to Gudrun and these are planned to provide results in the third quarter. Positive finds will mean that Brynhild will come on stream via the Gudrun/Sigrun installations.
Following the exchange of licenses between Statoil and Marathon, the 15/5-2 find will be taken out of the existing production license 048 and emerge as a separate license. The partnership will be Statoil (65.7%), Marathon (12.5%) and Total (21.8%).
There are several development options over the Sleipner value chain and the concept is expected to be decided upon next year.
The agreement relating to the license share exchange and division of the 15/5-2 discovery has to be approved by the authorities and partners concerning the 15/5-2 division.
