Vale is an offshore gas field in the North Sea located 16 km north of the Heimdal gas field. The depth of the water in the field area is 115 m. Vale is considered a satellite to Heimdal field and is connected to it by a pipeline. Estimated reserves at Vale stand at 2.5 e9m3 of natural gas and 21 Moilbbl of gas condensate. Vale gas field is expected to produce 1.6 e6m3/d of natural gas and 2600 oilbbl/d of condensate.

History

Production started on 31 May 2002, according to the Plan for Development and Operation approved by Norway in the spring of 2001. Total investment has been 800 million NOK which also included modifications on Heimdal, drilling operations, subsea templates and pipelines.

Ownership

The Vale field is operated by Sval Energi (50%) with LOTOS holding 25.757% and PGNiG holding 24.243% of the stake. The field was originally operated by Norsk Hydro. In 2007, the operations were transferred to Statoil as a result of the merger between Statoil and Hydro Oil & Gas. In 2012, Centrica acquired Statoil's stake and took over operatorship; operatorship passed to Sval Energi upon their acquisition of Centrica's subsidiary, Spirit Energy's Norwegian assets in 2022.