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Exxon extends life of Norwegian gas field

Lifespan of a field expected to fade this year extended to 2022.

By Daniel J. Graeber
Exxon extends life of Norwegian gas field
Norway consents to an extended life for a natural gas field operated by Exxon Mobil. File photo by Maryam Rahmanian/UPI | License Photo

Feb. 27 (UPI) -- Consent was given to Exxon Mobil to extend the life of a natural gas field in the North Sea because of new production calculations, Norway's government said.

Exxon started production at the Sigyn natural gas field in the Norwegian waters of the North Sea in 2012 and estimated only a five-year lifespan for development. According to the Petroleum Safety Authority of Norway, new calculations from the company show production can be sustained.

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"We have granted Exxon Mobil consent to extend the lifetime until Dec. 31, 2022," the government agency said in a consent agreement.

Norway is one of the top natural gas suppliers to the European economy, apart from Russia. Europe is working to wean itself off Russian natural gas by relying more on alternate suppliers.

The latest figures from the Norwegian government show total preliminary production figures for January at about 2 percent less than December, though total gas sales were higher.

A January review of the European energy market from S&P Global Platts found gas demand for the European Union increased about 6 percent from 2015 and could gain ground further as the region expands its export base to include liquefied natural gas, which relies less on continental pipelines than other forms.

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Almost all of the crude oil and natural gas produced offshore Norway is exported.

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