Statoil Asa and its partners sealed a partnership today for a joint oil export solution for the Ivar Aasen and Edvard Grieg oil fields. The pipeline that will be created will be called the Edvard Grieg oil pipeline.

To develop the Edvard Grieg and Ivar Aasen oil fields, the transport solution must be qualified by both operators Lundin (Edvard Grieg) and Det norske oljeselskap (Ivan Aasen). Transportation will be through the pipeline which is estimated to span 43 kilometers from Edvard Gried to the existing Grane pipeline. The Sture pipeline will also be transporting the oil from the two fields.

The investment was agreed upon by the partners of Statoil via Gassco's recommendation solution. The company has submitted a plan for the installation, engineering, and operation of the project to the Norwegian Ministry of Petroleum and Energy.

Statoil has been doing similar projects in the past. The company's previous familiarity of the pipeline installation is the basis of the new project's framework for implementation.