SUBSCRIBER NOTE: Platts launches North Sea crude Grane Blend assessment

Effective April 1, 2016, Platts has begun assessing the North Sea crude oil known as Grane Blend.

Following upstream developments tied back to the Grane's existing infrastructure, the grade's volume and quality have been in the process of changing. The resulting grade is composed of the existing Grane crude oil and Edvard Grieg crude oil.

Grane is currently 36.66% owned by Statoil, 29.94% Petoro, 28.22% ExxonMobil, and 6.17% ConocoPhillips. Grane production prior to the startup of Edvard Greig was around 75,000 b/d of oil equivalent.

Edvard Grieg is 50% owned by Lundin (operator), 20% OMV, 15% Wintershall, and 15% Statoil. Plateau production is expected to be around 100,000 boe/d.

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