Norway’s government has approved expansion plans for the country’s second largest gas field, Ormen Lange, as well as development plans for the Frosk and Tommeliten A discoveries, the oil and energy ministry said on July 8.
The Ormen Lange phase 3 extension is expected to increase gas extraction by up to 40 billion standard cubic meters, with start-up in 2025, the ministry said.
The field, operated by Shell and located in the Norwegian Sea, will as a result increase gas recovery from 75% to 85%, the ministry said.
“This project helps to maintain the gas supply from Norway to our friends in Europe from the middle of this decade,” oil and energy minister Terje Aasland said in a statement.
Seperately, the ministry also approved plans for developing the petroleum discoveries Frosk and Tommeliten A in the North Sea.
Tommeliten A, which is partly located on the British side of the North Sea, is operated by ConocoPhillips Co. and co-owned with PGNiG, Totalenergies SE and Vaar Energi.
Expected recoverable reserves at Tommeliten A are estimated at about 21 million standard cubic meters of oil equivalent, of which slightly more than three quarters is gas, the ministry said.
Expected start of production is 2024, it added.
The Frosk discovery, where recoverable reserves are estimated at 1.51 million standard cubic meters of oil equivalent, most of which is oil, is operated by AkerBP with Vaar Energi as the other stakeholder.
Production is expected to start in 2023.
Recommended Reading
WTI Delivered to East Houston Hits Highest Premium in Nearly Three Years
2024-05-01 - Oil takeaway capacity from the Permian Basin will tighten next month due to scheduled pipeline maintenance.
CPS Closes $785MM Deal for Talen Energy’s Texas NatGas Plants
2024-05-01 - CPS Energy has acquired all assets associated with the 897-MW Barney Davis and 635-MW Nueces Bay natural gas plants in Corpus Christi, Texas, and the 178-MW natural gas plant in Laredo, Texas.
Wirth: Chevron Won’t Put ‘New Capital into Venezuela’
2024-05-01 - California-based Chevron Corp. doesn’t plan on allocating more capex into its operations in Venezuela even though it still has U.S. approval to operate there, despite Washington sanctions.
Repsol Plans to Double Oil Production in Venezuela
2024-05-01 - Spain’s Repsol plans to double its oil production in Venezuela and continue with its diluent swap agreements with the OPEC country as approved by the U.S. government.
Permian Gas Finds Another Way to Asia
2024-04-30 - A crop of Mexican LNG facilities in development will connect U.S. producers to high-demand markets while avoiding the Panama Canal.