Vale gas field
| Company type | Natural gas field |
|---|---|
| Industry | Oil and gas industry |
| Founded | 2002 |
| Headquarters | Norway |
Area served | North Sea |
Key people | Sval Energi (operator) |
| Products | Natural gas, gas condensate |
| Owner | Sval Energi (50%), LOTOS (25.757%), PGNiG (24.243%) |
Vale () is a natural gas reservoir situated offshore in the North Sea, positioned to the north of the Heimdal gas field. The site lies at a water depth of . Serving as a satellite facility to Heimdal, Vale is linked through a pipeline connection. The field holds estimated reserves of natural gas amounting to , alongside gas condensate reserves of . Production goals are set at for natural gas and for condensate.
History
Operations commenced on 31 May 2002, following Norwegian authorization of the Development and Operation Plan in 2001. The total capital expenditure was approximately 800 million NOK, which included upgrades at Heimdal, drilling activities, subsea template installations, and pipeline construction.
Ownership
The field is currently managed by Sval Energi, which owns 50%, while LOTOS possesses 25.757%, and PGNiG holds 24.243%. Initially, Norsk Hydro operated Vale until its merger with Statoil in 2007 transferred control. In 2012, Statoil’s share and operational responsibilities were acquired by Centrica. Subsequently, in 2022, Sval Energi took over operatorship after purchasing Centrica’s subsidiary Spirit Energy’s Norwegian holdings.
See also
- Heimdal gas field
- Oseberg Transport System
- Grane oil field
- Oseberg oil field
- North Sea oil
- Economy of Norway