Centrica has handed in a plan for development and operation (PDO) for the Oda, formerly Butch, Field offshore Norway to the Ministry of Petroleum and Energy.
Under the PDO, the partners will spend about US$634.3 million (NOK 5.4 billion) on a subsea development for the field, which lies in production license 405 (PL 405). First production is scheduled in 2019.
Over the last couple of years the project team has managed to reduce investment costs by more than 40%, Centrica said of the current budget.
Oda will be developed with a seabed facility tied in to the Ula Field platform. The facility will consist of a subsea template with room to drill and complete up to four wells. The current plan is to drill two production wells and one water injection well, the Norwegian Petroleum Directorate (NPD) said.