Statoil has submitted a plan for the development and operation of the Byrding oil and gas discovery in the North Sea to government authorities.
Capital expenditures for the project are estimated at approximately $121 million (NOK 1 billion), reduced from an initial estimation of $425 million (NOK 3.5 billion), with recoverable volumes projected at around 11 million barrels of oil equivalent.
The Byrding development includes a duo-lateral well drilled from the existing Fram H-Nord subsea template through which oil and gas from Byrding will flow to Troll C. Oil and gas will be piped from there through existing pipelines to Mongstad and Kollsnes, respectively.
The field is scheduled to come on stream in the third quarter of 2017 and will remain online for between eight and ten years, according to Statoil.
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