Shtokman is the third largest gas field to be discovered in the world, with more reserves in this single field than the UK and Norway combined.
Shtokman could be yielding 23 Bcm to 24 Bcm of gas per year by 2013 and 100 Bcm by 2030.
Ekofisk was originally developed with pressure depletion as the drive mechanism.
Since then, limited gas injection and comprehensive water injection have contributed to a substantial increase in oil recovery.
The two largest projects in Norway are the USD 25 billion Johan Sverdrup development (Avaldsnes and Aldous Major South oil discoveries) and the USD 19.2 billion Ekofisk area development (Ekofisk South A2 and Tommeliten Alpha).
New facilities at the Ekofisk area development will increase oil recovery.
The first phase of the development will feature an ice-resistant floating production unit, producing about 68 MMcm/d plus liquids.
The reserves in Shtokman could last between 50 and 70 years.
Key projects include the Greater Sunrise gas and condensate fields, a USD 12 million floating liquefied natural gas (LNG) production platform project in the Timor Sea, due to begin operation in 2017 with an LNG yield of 4 million metric tons per year.
Another large project is the USD 4.6 billion North West Shelf North Rankin B/North Rankin compression project, designed to recover additional gas from the North Rankin and Perseus gas fields and extend the field life beyond 2030.