The Norwegian Petroleum Directorate granted Equinor ASA permission to start up the Utgard oil field in the North Sea in September, according to an Aug. 14 release from the agency.
The field is on the border between the U.K. and Norway. The licensees received permission to start work in production licenses 046E and 046F on the Norwegian shelf and in production license 312 on the U.K. shelf.
Production will be done using two wells from a subsea template linked to the Sleipner T process platform with a pipeline and a communications cable. Sleipner T has undergone modifications in order to process the wellstream from the field, the release said.
Equinor estimates total sales volumes of 1.71 million standard cubic meters of condensate, 2.73 billion standard cubic meters of gas and 560,000 tonnes of NGLs. Total investments in developing the field came in at 2.7 billion Norwegian kroner.
Licenses 046E and 046F are owned by Equinor subsidiary Equinor Energy AS with a 62% stake. Grupa LOTOS SA unit Lotos Exploration and Production Norge A/S and Kuwait Foreign Petroleum Exploration Co. K.S.C. subsidiary KUFPEC Norway AS hold 28% and 10% interests, respectively. Equinor Energy AS holds a 59% stake in production license 312 while Exxon Mobil Corp. unit ExxonMobil Exploration and Production Norway AS and Eni SpA subsidiary Vår Energi AS hold a 24% and 17% interest, respectively.
As of Aug. 13, US$1 was equivalent to 8.90 Norwegian kroner.