Building Trust Among Investors. Thank you Gunnar Eckbo and congratulation with introducing the price on Iceland. Rabbe Lund Chairman of a Swedish/ Norwegian oil company, board member world leading geosciences company and an Oil service company. Building Trust Among Investors.
Trust not an easy concept (eg shipowner story)
Trust: One in which confidence is placed (Webster)
- 1 development project - 1 exploration and discovery
- 8 exploration licenses
- 6 producing fields
- 2 discoveries
- 4 exploration assets
- 2 exploration assets
Operator Statoil (49,6%), PAR (10,0%).
Production from 3 wells through a drilling& processing platform (jack-up rig) with a capacity of 80 000 bbls/d liquid. The processed oil is stored in a FSO .Expected peak production ca 50 000 bbls/d.
Production start Q2-2007
Recoverable reserves ca 70 MBOE as per PDO 2005.Field development - Norway
Avarage production per day, BOE/day