OKEA ASA, DNO ASA, and their companions have made a last funding choice (FID) on the Brasse improvement within the northern North Sea.
The sector is estimated to comprise 24 million barrels of oil equal gross in recoverable reserves and will likely be developed as a tie-back to the Brage subject. The Brasse improvement, PL740, is positioned 8.1 miles (13 kilometers) south of the Brage subject, in response to separate information releases from OKEA and DNO. OKEA will proceed as operator for each licenses.
The event plan for Brasse consists of a two-well subsea tie-back to the Brage platform, which can function the host facility for manufacturing, processing, and export, OKEA stated. The plan for improvement and operation (PDO) will likely be submitted throughout April and Brasse will likely be renamed Bestla upon approval of the PDO.
The sector is predicted to return on stream in the course of the first half of 2027 and is anticipated to function till 2031 with the potential for extension, OKEA stated, including that it expects peak manufacturing inside the first yr of manufacturing at round 26,000 barrels of oil equal per day (boepd) gross, or 10,000 boepd web to OKEA.
“Brasse is a vital addition to our portfolio and represents a big worth creation alternative for OKEA and our companions,” OKEA SVP for Initiatives and Expertise Krut Gjertsen stated. “As a tie-back to Brage, each licenses will profit from synergies and economies of scale”.
The sector is projected additionally anticipated so as to add an estimated 10,000 boepd on a web foundation to DNO at peak manufacturing, the corporate stated in a separate information launch. It’s going to lengthen the business viability of the Brage amenities, permitting the companions to squeeze extra oil and fuel out of Brage, which has been in manufacturing since 1993, DNO famous.
The PL740 partnership consists of OKEA with a 39.2788 p.c stake, DNO Norge AS with a 39.2788 p.c stake, Lime Petroleum AS with a 17 p.c stake, and M Vest Vitality AS with a 4.4424 p.c stake.
The Brage Unit partnership consists of OKEA with a 35.2 p.c stake, Lime Petroleum with a 33.8434 p.c stake, DNO Norge with a 14.2567 p.c stake, Petrolia Noco AS with a 12.2575 p.c stake, and M Vest Vitality with a 4.4424 p.c stake.
OKEA stated it awarded a contract to Aker Options for the topside scope and a contract to Subsea7 and OneSubsea for the subsea scope. Contracts for rig and drilling companies will likely be awarded within the second quarter, it added.
OKEA describes itself as a number one mid-to-late-life operator on the Norwegian continental shelf.
DNO is a Norwegian oil and fuel operator lively within the Center East, the North Sea and West Africa. Based in 1971, the corporate holds stakes in onshore and offshore licenses at numerous levels of exploration, improvement and manufacturing within the Kurdistan area of Iraq, Norway, the UK, Côte d’Ivoire, the Netherlands and Yemen.
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