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Production starts at Valemon gas and condensate field in Norwegian North Sea

Statoil and its partners have started production at the Valemon gas and condensate field in the Norwegian North Sea.

The field, which features around 192 million barrels of oil equivalent, is located between Kvitebjørn and Gullfaks South in the North Sea, about 160km west of Bergen.

Gas from Valemon will be sent via the existing pipeline between Huldra and Heimdal, which is a hub for further transportation to the European gas markets.

The condensate will be piped to Kvitebjørn for stabilisation and from there to the Mongstad refinery near Bergen.

A submarine cable will deliver electricity to Valemon from Kvitebjørn.

Statoil Petroleum operates the field with a 53.77% stake. Petoro, Centrica Resources and Norske Shell have 30%, 13% and 3.23% interests, respectively.

Statoil executive vice-president for development and production Norway Arne Sigve Nylund said: "Valemon is one of several new projects on the Norwegian Continental Shelf that will help add value, activity and innovation, demonstrating well the long-term perspective that characterises Statoil's activity on the Norwegian Continental Shelf.

"By using the existing facilities at Kvitebjørn and Heimdal, as well as the existing pipelines, we have also reduced the costs of developing the Valemon field."

Investments in the Valemon field development project will total about NOK22.6bn ($2.9bn) when all wells are drilled.

The platform, which features 40 cabins, will then have ten production wells.

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