Marathon Oil Corp To Manage Staffing, Operations At Alvheim
August 31 2009 - 4:12AM
Dow Jones News
Marathon Oil Corp (MRO) Monday said it is terminating a service
agreement with AP Moller-Maersk A/S (MAERSK-B.KO) relating to the
Alvheim field in Norway and will assume operations and staffing
there itself.
Marathon said it will directly staff and operate the floating
production storage and offtake, or FPSO vessel at Alvheim from the
second half of 2010. The field started up in June 2008 and output
has now reached a stable level of 140,000 barrels of oil equivalent
a day, well above the design capacity of 120,000 barrels a day.
Alvheim is owned by Marathon, with 65%, Lundin Norway with 15%
and ConocoPhillips (COP) with 20%. Oil from the field is exported
by tankers, while processed rich gas from the field is piped into
the SAGE system on the U.K. continental shelf.
Company Web site: www.marathon.com
-By Elizabeth Adams, Dow Jones Newswires; +44 (0) 20 7842 9386;
elizabeth.adams@dowjones.com