Det Norske announced today first production from offshore of Norway
Det Norske Oljeselskap ASA, in partnership with Core Energy AS and Lundin Norway AS (ticker: LUPE) announced the production of first oil from their offshore project in the Bøyla field. The Bøyla field is the fourth field in production in the larger Alvheim area.
The company said in its release that total investment in the development of the Bøyla field amounts to approximately NOK 5 billion, or $650 million. Recoverable reserves from the field are estimated at approximately 23 MMBOE. The Bøyla field consists of two horizontal production wells and one water injection well. The expected production rate is in excess of 20 MBOEPD when both wells are in production.
The Bøyla field is tied back to the Alvheim FPSO’s existing infrastructure via a 28-kilometere (approximately 16 miles) pipeline. The processing capacity of the Alvheim FPSO is approximately 150 MBOEPD.
Bøyla is located in the northern part of the North Sea. The license was awarded to Det Norske in the APA 2004 licensing round, and the first discovery was made in 2009. The plan for development and operation was submitted to and approved by the Norwegian authorities in 2013. Construction of the subsea structures on the Bøyla field commenced in 2013.
Det Norske is the operator for the Bøyla field and holds a 65% interest. Partners Core Energy AS and Lundin Norway AS hold a 20% and 15% interest respectively. Det Norske is based out of Trondheim, Norway.
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