StatoilHydro said that expected production from Yttergryta is approximately 1.75 billion standard cubic meters of gas with very low CO2 content. It will be developed with a subsea template tied back to the Asgard B platform.
The company said that startup is scheduled for the first quarter of 2009. The production period will be between three to five years with a maximum anticipated production of 3.5 million cubic meters per day.
The company stated that the exploration well that was drilled in June 2007 will be converted to a production well in 2008. The template for the subsea production facility has already been installed. Development costs are expected to be around NOK1.2 billion, including drilling expenses.
StatoilHydro is the operator of the Yttergryta field with a 45.75% interest. The other licensees are French oil giant Total with 24.5%, Norwegian oil and gas firm Petoro with 19.95% and Italian energy firm Eni with 9.8%.
