NPD Processing Development Plan for Utgard Discovery



The Norwegian Petroleum Directorate is processing the development plan for the Utgard discovery in the North Sea, after receiving the plan for development and operation Aug. 9.

Significant sums of money have been invested in infrastructure on the Norwegian shelf, according to the NPD, and the organization has stated that it wants to ensure “sound and efficient utilization of this infrastructure”.

“It is very positive that the licensees in Utgard have decided on a project that will ensure good and cost-efficient utilization of the facilities and the available process capacity on Sleipner,” said Tove Francke, NPD’s assistant director for development and operation in the Southern North Sea.

Tove added that the Utgard development shows it is possible to realize profitable projects during periods with challenging cost and price regimes.

“The NPD expects that the realization of the resources in Utgard will contribute to value creation for both the Norwegian society and the licensees in Utgard and Sleipner,” Tove said.

The Utgard development plan is the first PDO to be submitted to the authorities in 2016. Utgard is located in production licenses 046E and 046F on the Norwegian shelf and in production license 312 on the UK shelf.

Statoil Petroleum is the operator on the Norwegian side, with an ownership interest of 62 percent. The other licensees on the Norwegian side are Lotos E&P Norge AS with an ownership interest of 28 percent and Total E&P Norge AS with an ownership interest of 10 percent. Statoil UK is the operator on the UK side, with an ownership interest of 100 percent.



WHAT DO YOU THINK?


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

RELATED COMPANIES