BG Group operates the Atlantic field which has a gross recoverable gas reserve of 118 billion cubic feet (3.34 billion cubic meters), while Amerada Hessoperates the Cromarty field, with reserves of 106 billion cubic feet.
Both are working together on the development, which was approved by the British Department of Trade and Industry in December of last year.
Development wells are due to be drilled in March 2005 and expected to finish in September 2005. The gas is likely to be pumped back to the terminal at St Fergus via a new pipeline, the longest multi-phase flow sub-sea tie-back in the North Sea.
The total investment including funds spent to date is 205 million pounds ($380 million). In June 2002, in an asset swap with BP, BG assumed the operatorship of the Atlantic Field.
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