Development plans for the Ivar Aasen and Gina Krog fields off Norway have been recommended for approval by the Oslo government.
Sea pair represent combined investments of Nkr54 billion ($9.3 billion), with respective
operators Det norske oljeselskap and state-owned Statoil now waiting on
parliament to formally rubber-stamp the plans before kicking off development
being developed at a cost of Nkr24.9 billion, holds recoverable oil and gas
reserves of 148 million barrels of oil equivalent and is due on stream in the
fourth quarter of 2016.
holds a 35% operated stake in the field – discovered in 2008 and formerly named
Draupne - and is partnered by Statoil (50%) and Bayerngas (15%).
formerly named Dagny, was discovered in 1978 but can now finally be exploited
due to the development of new technology that has made it commercially viable and is due on stream in the first quarter of 2017.
holds 225 million boe of oil and gas to be exploited for an investment of
Nkr29.1 billion by operator Statoil, which holds a 58.7% stake with partners
Total (38%) and Det norske (3.3%).
& Energy Minister Ola Borten Moe said it was important for operators off
Norway to bring such fields in the mature North Sea to fruition using
technological advances as the country struggles to arrest falling output.