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
Chevron to Divest 20% Interest Offshore Suriname to QatarEnergy
2024-07-23 - Chevron Corp. will divest a 20% interest to QatarEnergy in a production sharing contract related to Suriname offshore Block 5.
Marketed: Berlin Resources’ Anadarko Basin Opportunity
2024-07-22 - Berlin Resources has retained EnergyNet for the sale of an Anadarko Basin opportunity in the Montgomery 18/19 BO #1H, located in Ellis County, Oklahoma.
Archrock to Buy NatGas Compression Firm TOPS for $983MM
2024-07-22 - The acquisition of Total Operations and Production Services will increase Archrock's compression capacity by 30% to nearly 2.2 million operating horsepower.
EQT Closes $5.45B Acquisition of Equitrans Midstream
2024-07-22 - In addition to integrating Equistrans’ midstream assets, EQT will focus on reducing the infrastructure company’s debt of between $7.6 billion and $8 billion. Including equity and debt, the deal is valued at roughly $13 billion.
WildFire Energy I Buys Apache’s Eagle Ford, Austin Chalk Assets
2024-05-21 - Private producer WildFire Energy I, backed by Warburg Pincus and Kayne Anderson, scooped up Apache’s portfolio in the eastern Eagle Ford and Austin Chalk plays.