STAVANGER, Norway – VNG Norge, on behalf of the licensees in PL586, has submitted to the Ministry of Petroleum and Energy the plan for development and operation for the Fenja field in the Norwegian Sea.
Fenja (previously named Pil/Bue) will be developed with two subsea templates with six wells (three producers, two water injectors and one gas injector) tied back to the Njord A platform for processing and storage and export via the Njord B FSO.
Discovered in 2014, the Fenja field is located at Haltenterassen in block 6406/12 about 120 km (75 mi) north of Kristiansund, and about 30 km (19 mi) southwest of the Statoil-operated Njord field.
VNG Norge estimates that the field contains recoverable resources of approximately 100 MMboe, mostly oil.
The licensees in PL586 are VNG Norge AS (operator, 30%), Point Resources AS (45%), and Faroe Petroleum Norge AS (25%). The partners are planning to invest NOK10.2 billion ($1.22 billion), with start-up expected in 2021 and a planned field life of 16 years.
Atle Sonesen, managing director of VNG Norge, said: “The partnership has shown commitment when, just over three years since the discoveries were made, we are able to deliver a development plan for an economic project based on a good area solution and cooperation with the suppliers.
“Although this is the first development operatorship for VNG Norge, we have built a strong and experienced development team and are well prepared for execution. Compared to the initial plans, we have managed to reduce the cost of the project by almost NOK2 billion [$239 million].”
The development plan is subject to approval from Norwegian authorities.