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Lundin Petroleum AB, through its wholly-owned subsidiary Lundin Norway AS and the Bøyla partners, have submitted the plan for development and operation (PDO) of the Bøyla field on the Norwegian continental shelf (NCS) to the Norwegian Ministry of Petroleum and Energy.
The Bøyla development is expected to begin production during fourth quarter 2014. The Bøyla field is in Block 24/9 on the Norwegian sector of the North Sea, approximately 28 km south of the Alvheim field.
The field will be developed as a subsea tie-back to the Alvheim floating, production, storage and offloading vessel with two production wells and a water injection well being drilled. The total investment in the field development is estimated to be $867 million. The estimated reserves are 23 million barrels of oil equivalent.
Bøyla crude oil will be commingled with the Alvheim blend and exported via shuttle tankers. Associated gas will be exported via the Alvheim to the SAGE pipeline.
Lundin Petroleum holds 15% working interest in the concession; ConocoPhillips Skandinavia, 20%; and Bøyla’s operator, Marathon Oil Norge AS, 65%.