Det Norske sealed a $120 million acquisition of Premier Oil’s Norwegian assets in December, including operatorship of the Vette field. Premier originally intended to develop Vette (formerly named Bream) using a Sevan Marine-designed cylindrical floating production, storage and offloading vessel, but development plans were put on hold due to cost-cutting efforts to improve project profitability amid low oil prices.
The North Sea field holds an estimated 54 million barrels of oil equivalent, along with another 20 million boe at Mackerel in production licence 407.
Det
