Vale gas field
Vale () is an offshore gas field in the North Sea located north of the Heimdal gas field. The depth of the water in the field area is . Vale is considered a satellite to Heimdal field and is connected to it by a pipeline. Estimated reserves at Vale stand at of natural gas and of gas condensate. Vale gas field is expected to produce of natural gas and of condensate. History. Production was 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 Centrica (75.76%) with TotalFinaElf Exploration Norge AS holding 24.24%. The field was originally operated by Norsk Hydro. In 2007, the operationship was 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.