Repsol was granted consent to start production at its Yme oilfield in the North Sea, the Norwegian Petroleum Directorate said on Wednesday.
Yme is one of the first oilfields on the Norwegian shelf to be redeveloped after the field was shut down in 2001, when production was deemed unprofitable, NPD said.
Repsol and its partners, including Norwegian oil firm Okea , will use a jack-up drilling rig, Maersk Inspirer, as a production facility.
The 12 billion Norwegian crown ($1.35 billion) project aims to produce about 63 million barrels of oil.
Production startup is expected during the second half of 2021, after more than a year of delays, NPD added.
Recommended Reading
SM Energy Adds Petroleum Engineer Ashwin Venkatraman to Board
2024-12-04 - SM Energy Co. has appointed Ashwin Venkatraman to its board of directors as an independent director and member of the audit committee.
Baker Hughes Wins Contracts for Woodside’s Louisiana LNG Project
2024-12-30 - Bechtel has ordered gas technology equipment from Baker Hughes for the first phase of Woodside Energy Group’s Louisiana LNG development.
Gigablue Enters CCS Agreement with Investment Firm SkiesFifty
2025-01-14 - Carbon removal company and investment firm SkiesFifty have partnered to sequester 200,000 tons of CO2 over the next four years.
Chevron Names Laura Lane as VP, Chief Corporate Affairs Officer
2025-01-13 - Laura Lane will succeed Al Williams in overseeing Chevron Corp.’s government affairs, communication and social investment activities.
Plains All American Prices First M&A Bond of Year
2025-01-13 - U.S. integrated midstream infrastructure company Plains All American Pipeline on Jan. 13 priced a $1 billion investment-grade bond offering, the year's first to finance an acquisition.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.