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UPDATE 1-StatoilHydro says starts Tyrihans production

Wed Jul 8, 2009 4:52am EDT

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* Largest field on stream in 2009

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* Expected to produce until end-2029

(Adds quotes, details)

OSLO, July 8 (Reuters) - Norway's StatoilHydro (STL.OL) has started production from its Tyrihans oil and gas field in the Norwegian Sea, the largest field it is bringing on stream in 2009, it said on Wednesday.

It said Tyrihans, which was discovered in 1982-83, was expected to continue producing until the end of 2029.

StatoilHydro is the operator of Tyrihans with a 58.84 percent stake. Total (TOTF.PA) holds 23.18 percent, Exxon Mobil (XOM.N) 11.75 percent and Eni (ENI.MI) holds 6.23 percent in the field.

"Tyrihans is of strategic importance to StatoilHydro's development of operations in the Norwegian Sea," Ivar Aasheim, senior vice president for the operations north cluster in Exploration & Production Norway, said in a statement.

Aasheim said the Tyrihans field will be an important contributor to the company's production on the Norwegian continental shelf.

"Newly developed well technology secures a high recovery factor for the field's resources," the company said.

Shares in StatoilHydro fell 0.6 percent to 120.53 crowns by 0821 GMT, against a 1.2 percent drop on the Oslo bourse .OSEBX.

(Reporting by Richard Solem and Aasa Christine Stoltz, Editing by Peter Blackburn)

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