Norway's Petroleum Safety Authority has granted consent to operator ExxonMobil Corp. (NYSE: XOM) to extend the lifetime of its Sigyn Field in the North Sea offshore Norway until end-2022, the safety watchdog said on Feb. 24.
The gas and condensate field around 12 km southeast of the Sleipner East Field, operated by Statoil ASA (NYSE: STO), has been developed using subsea templates tied back to the Sleipner A facility.
Production from the field was originally estimated to end in 2017.
The Norwegian Petroleum Directorate said on its page the Sigyn Field's lifetime could be extended by adding new production wells.
ExxonMobil has a 40% stake in Sigyn while Statoil holds 60%.
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