The Norwegian Government has given its approval for ExxonMobil to build a pipeline system for the Ringhorne field. The estimated cost for the project is $200 million.
The system is estimated to produce and transport in its lifetime about 11 million standard cubic meters of oil and 2.2 billion cubic meters of gas from Ringhorne and the Balder field to the nearby Jotun field, according to the Oil and Energy Ministry.
The new transport system is expected to be completed in the first quarter of 2004 with a capacity of 40,000 barrels of oil equivalent per day. Throughput is expected to peak at 35,000 boe a day in 2006.