Swedish oil and gas firm Lundin Petroleum has received approval from the Norwegian authorities to start up its Solveig field in the North Sea. offshore Norway.
Expected to start production this autumn, Solveig will produce from subsea production facilities tied into the Edvard Grieg field, 15 kilometers away. The oil and gas will be processed there before further transport.
The first phase of the field development consists of three wells for oil production, along with two wells that will be used to inject water. The field is expected to produce up to 2041.
The investment decision for Phase 2 will come later, based on experience and information from Phase 1.
Lundin's Plan for Development and Operation (PDO) estimated recoverable reserves from Solveig at 9.2 million standard cubic metres (Sm3) of oil equivalent in Phase 1. This is distributed between 6.98 million Sm3 oil (44 million bbls), 1.44 billion Sm3 sales gas and 0.42 million tonnes NGL.
The PDO estimated total investments in Phase 1 at about NOK 6.5 billion (around $748,3 million).
