Offshore North Sea Ivar Aasen development set for Asha tie-in

Bridge Energy (OSE:BRIDGE;AIM:BRDG.L) says the recent Asha discovery in the Norwegian North Sea will be developed jointly with the nearby Ivar Aasen field.

Offshore staff

OSLO, Norway -- Bridge Energy (OSE:BRIDGE;AIM:BRDG.L) says the recent Asha discovery in the Norwegian North Sea will be developed jointly with the nearby Ivar Aasen field.

This follows an agreement signed by the licensees of PL457 containing Asha and of PL001B containing Ivar Aasen.

The agreement sets out principles for unitization of the discoveries, with the process expected to be concluded by mid-2014.

Det norske oljeselskap submitted to the Norwegian Ministry of Petroleum and Energy late last year a plan todevelop and operate Ivar Aasen, and expects approval from the Norwegian Parliament prior to mid-year.  

Ivar Aasen will be developed via asteel leg platform, with dry wellheads and processing capacity.  Production will be exported via the Lundin-operated Edvard Grieg facilities, with start-up planned for 2016.

3/8/2013

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