20 North Sea Fields in Danger of Shutting Output Earlier Than Planned
13.04.2016

20 North Sea Fields in Danger of Shutting Output Earlier Than Planned

20 North Sea Fields in Danger of Shutting Output Earlier Than Planned

Between 18-20 oil and gas fields offshore Norway are in danger of shutting output earlier than planned due to low oil prices, but the impact on the overall output outlook would be limited, the head of the Norwegian Petroleum Directorate told Reuters on April 12.

"There are about 18-20 fields that lie in the danger zone," Bente Nyland, the head of the agency tasked with managing the country's oil and gas resources, told Reuters.

"Those ... fields, which include [Statoil's] Veslefrikk Field, represent about one percent of total production," she said.

"Put altogether, it is not a big crisis, but clearly every field delivers cash, so it is important to ensure that profitable resources are extracted," she said on the sidelines of an industry conference.

Nyland said oil companies were working on several development plans of new oil and gas fields, but more would be known between May and June. Statoil said earlier it expected to present plans for two fields, Trestakk and Utgard, this year.

Asked whether there was potential for more than these two development plans to be presented to authorities this year, Nyland said, "yes, there is."

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