The Norwegian Petroleum Directorate (NPD) said on May 24 it has given consent for Statoil to start the Gina Krog oil and gas field in the North Sea.
Operator Statoil, which holds a 58.7% stake, is planning to start production in June, it said.
The field, named after Norwegian suffragist Gina Krog, was previously expected to start in April, information on the NPD’s website showed.
Gina Krog is estimated to hold 106 MMbbl of oil, 11.8 Bcm (417 Bcf) of gas and 3.2 million tonnes of NGL), which will be produced by using a fixed production facility and a storage vessel. Oil will be exported via shuttle tankers, and gas will be sent to the Sleipner A platform for final processing.
The other partners in the field include Total, Kuwait’s KUFPEC, Poland’s PGNiG and Norway's Aker BP.
Norwegian oil startup Okea has agreed to buy Total’s 15% stake in Gina Krog for $350 million, Norwegian financial daily Finansavisen reported on May 23.
Both Total and Okea have declined to comment.
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