The cost of developing Aker BP’s Snadd gas discovery in the Norwegian Sea will probably amount to 10 billion crowns (US$1.19 billion), a preliminary estimate by the company showed on Feb. 22.
The discovery will be developed in two phases by using subsea templates tied back to the Skarv FPSO vessel.
Current estimates are 6 billion crowns for the first phase and 4 billion crowns for the second phase, a company spokesman said.
The costs will be finalized when Aker BP submits a plan for development and operations (PDO) later this year, with production expected to start in 2020, he added.
Snadd’s ownership is identical to that of the Skarv Field, in which operator Aker BP has a 23.84% stake, Statoil holds 36.16%, DEA holds 28.08% and PGNiG holds 11.92%.
The top owners of Aker BP are Aker ASA and BP Plc .
($1 = 8.3772 Norwegian crowns)
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