Utgard, Byrding Field Development Plans Approved

Utgard, Byrding Field Development Plans Approved
The plan for development and operation for the Utgard and Byrding fields in the North Sea has been approved by the authorities.

The plan for development and operation for the Utgard and Byrding fields in the North Sea has been approved by the authorities, Statoil revealed Tuesday.

Utgard is a gas and condensate field on Norwegian and UK continental shelf while Byrding is an oil and gas field north of the Troll field. Recoverable volumes at Utgard and Byrding are estimated at 56 and 11 million barrels of oil equivalents, respectively.

“I’m pleased that the plan for development and operation of Utgard and Byrding now has been approved. These projects will give valuable new volumes to the Sleipner and Troll field,” Torger Rød, senior vice president for project development in Statoil, said.

“Efficient utilization of existing infrastructure contributes to reducing the costs and make these developments profitable,” he added.

Capital expenditures for Utgard are projected at about $415 million (NOK 3.5 billion) while for Byrding the capex is estimated to near $118 million (NOK 1 billion).

 



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
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
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Undiscovered Oil, Gas Resources in Bar... (Apr 25)
 -  Petrofac Secures $70MM Services Contra... (Apr 25)
 -  CEO: Another Year of Activity Decline ... (Apr 25)
 -  Petronas Awards 'Key' Offshore Contrac... (Apr 24)
 -  Genel Energy Appoints New Chairman (Apr 24)


Most Popular Articles

From the Career Center
Jobs that may interest you
Lease Operator (Three Rivers)
Expertise: Production Operator
Location: Three Rivers, TX
 
Control Room Operator
Expertise: Production Operator
Location: Runge, TX
 
Lease Operator - EOI
Expertise: Gas Plant Operations
Location: Midland, TX
 
search for more jobs

Brent Crude Oil : $51.68/BBL 0.27%
Light Crude Oil : $49.25/BBL 0.74%
Natural Gas : $3.24/MMBtu 3.18%
Updated in last 24 hours