Norway's DNO and partners approve development of the 37-million-barrel Kjøttkake oilfield

en.Wedoany.com Reported - On October 29, Norwegian oil and gas company DNO confirmed that it and its license partners approved the final investment decision (FID) for the development of the Kjøttkake oilfield in the North Sea that week. The project is estimated to have recoverable resources of approximately 37 million barrels of oil equivalent. The field is planned to have 3 subsea completed wells tied back via a subsea tie-back system to the existing Gjøa production platform, with Aker BP serving as operator during the development phase. First oil is expected in the first half of 2028.

Under the development plan, the Kjøttkake oilfield will be developed by connecting a subsea production system to the existing platform, with total production during the plateau period expected to be approximately 20,000 barrels of oil equivalent per day. The project is located near the Gjøa production facility in the Norwegian North Sea, and its development scope includes subsea well completion and the subsea systems required to connect to the existing production facility.

The project license interests are held 45% by Aker BP, 40% by DNO and 15% by Concedo. Under arrangements previously agreed between the parties, Aker BP serves as operator during the development and construction phase, and operatorship will transfer to DNO after first oil production.

Aker BP confirmed on October 29 that the final investment decision has been made for the project, and the development and operation plan will subsequently be submitted to the Norwegian authorities. The company plans to rename the Kjøttkake project as Lyra and to carry out the development using standardized subsea equipment. The project's development capital expenditure is estimated at approximately USD 20 to 25 per barrel of oil equivalent.