STATOIL OPERATOR OF MARTIN LINGE AND GUARANTIANA

March 21, 2018

Statoil and Total have completed their previously announced transaction whereby Statoil has acquired Total’s equity stakes in, and taken over the operatorships of, the Martin Linge field and the Garantiana discovery on the Norwegian continental shelf.
Statoil now has a 70% interest in Martin Linge and 40% in Garantiana. 121 employees from Total have been transferred over to Statoil in accordance with the Sale and Purchase Agreement and applicable legislation.
The Martin Linge field in the North Sea is an oil and gas discovery that was made in 1975. The field is located 42 kilometres west of Oseberg, at a water depth of 115 metres.
New wells drilled in the following years confirmed that this was a complex, high-pressure area, consisting of an oil reservoir at 2000 metres depth and a sizeable gas reservoir at 4000 metres depth.
In 2010 the operator Total drilled a new well that gave important information. This knowledge, combined with innovation and use of advanced technology, made it possible to develop Martin Linge, a field with estimated recoverable reserves at around 190 million barrels of oil equivalent (oil and gas).
Garantiana is an oil discovery north of the Visund field in the North Sea with a recoverable resource potential between 50 to 70 million barrels oil equivalent. Development concepts are currently being evaluated. Following completion of the transaction Statoil will have a 40% interest in the discovery.
Statoil will take over relevant employees from Total in accordance with the applicable legislation including required information and consultation process. (Source and image: Statoil/Martin Linge facility)