Det Norske Oljeselskap ASA received authorization to develop its two North Sea fields, Ivar Aasen and Gina Krog, on the Norwegian shelf. The Ivar Aasen field , which Det Norske operates with 35% interest, is estimated to contain 150 mmboe and its development is one of the largest on the NCS. It is estimated that total investment will be NOK 24.7 billion. First oil is expected 4Q 2016. Gina Krog, which Det Norske holds a 3.3% share, contains a gross recoverable reserve of 225 mmboe, with 7.5 mmboe net to Det Norske. Total investments at the field will be NOK 31 billion. First oil is expected by 1Q 2017.