The largest project in our portfolio today is Gjøa, located west of the Sogn area. Gjøa is being developed with a semi-submersible production platform and five subsea templates The producing facility is designed in a way that makes it possible to process oil and gas from other smaller discoveries in the area in the future, such as Vega - a gas and condensate field that is being tied back to the platform in a joint pipeline.

The Gjøa platform will be provided land-based electricity from Mongstad that is estimated to avoid emissions of 240,000 tonnes of carbon dioxide per year, equivalent to the annual emissions from 100,000 cars. At production start-up, expected to be in the autumn of 2010, we will hand over the operatorship of Gjøa to Gaz de France .

Tyrihans is a stand-alone subsea field development tied back to the Kristin platform. The field will be developed with four production/gas injection templates and one water injection template, with a total of 12 wells (eight oil producers, two gas injectors, one gas producer and one water injector).

The Tyrihans field was discovered in 1982/1983 and the PDO was approved by the Norwegian authorities in February 2006.

The remaining work prior to the estimated start-up in mid-2009 consists of topside modifications on Kristin and Åsgard B and delivery of the subsea production system and seawater injection system.

Another ongoing project located on the Halten Bank is Morvin. Initially it was not regarded as commercially viable when it was discovered in 2001. However, an appraisal well in the summer 2006 verified sufficient recoverable reserves, and Morvin underwent an accelerated development process. A PDO was issued to the authorities on 1 February 2008, and approved on 28 April 2008.

Morvin is a high pressure high temperature field, and it is being developed with technology solutions copied from Kristin. The two templates, with a total of four production wells, are tied in to Åsgard B, 20 kilometres away. Templates and production pipeline were installed in summer 2008 and topside installation work has commenced. Production start-up is scheduled for late 2010.

The Yttergryta subsea gas and condensate field development is an example of a relatively small but unique project in our portfolio. The discovery was made in the summer of 2007, and production started up on 5 Januar 2009, four months ahead of schedule. The wellstream is tied back to the Åsgard B platform for processing and onward export.

Ormen Lange Offshore is the second phase of the gigantic Ormen Lange gas field development. We currently have two separate ongoing projects on Ormen Lange: Southern Field Development and Subsea Compression Pilot. The purpose of these projects is to ensure optimal depletion from the field when the pressure in the reservoir drops. Groundbreaking work is now being done to qualify technology for subsea compression on Ormen Lange, and, if successful, the new technology could contribute to considerable cost savings, not only for the Ormen Lange partners, but for the entire oil and gas industry.

The field was developed with seabed installations at depths down to 1100 metres, combined with an onshore plant at Nyhamna in Aukra municipality in Norway for processing and exporting the gas. The gas is exported through the world's longest subsea pipeline, Langeled, 1200 kilometres to Easington on the east coast of Britain. The gas can also be transported via the riser platform on the Sleipner field in the North Sea to customers on the European continent.

Following a gradual increase in production over the first two to three years, the field is expected to produce 70 million standard cubic metres of gas per day.