ONE-Dyas joining North Sea Nova project

The Nova field is being developed as a subsea tieback to the Neptune Energy-operated Gjøa platform in the Norwegian North Sea.
The Nova field is being developed as a subsea tieback to the Neptune Energy-operated Gjøa platform in the Norwegian North Sea.
(Courtesy Cairn Energy)

Offshore staff

EDINBURGH, UK – Cairn has an agreement to sell 10% of its 20% interest in the Nova development in the Norwegian North Sea to ONE-Dyas Norge for $59.5 million, plus working capital adjustments.

The transaction should reduce Cairn’s capex in the Nova area to the end of 2021 by around $110 million.

It plans to use the proceeds for other exploration and development activities.

Wintershall DEA submitted the Nova field development plan in mid-2018 and is targeting first oil in 2021 via a tieback to the Neptune Energy-operated Gjøa platform.

08/06/2019

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