Statoil New Field

Statoil New Field Statoil New Field

Norwegian oil and gas firm Statoil has started up the Valemon gas and condensate field in North Sea on Saturday and expects to recover up to 192 million barrels of oil equivalents over the field’s lifetime, Reuters reported. Valemon, a high pressure and high temperature field, will cost $3.0 billion once all production wells are in operation, Statoil said.