Statoil has completed a deal to acquire Wintershall's 25% interest in the Byrding project on the Norwegian Continental Shelf (NCS), increasing its stake to 70%.
Byrding, in PL 090B, is an oil and gas discovery in the northern part of the North Sea, near the Troll / Fram area.
The field is scheduled to come on stream in Q3 2017, via a duo-lateral well drilled from the existing Fram H-Nord subsea template, through which oil and gas from Byrding will flow to the Troll C semisubmersible production facility. Oil and gas will be piped from there through existing pipelines to Mongstad and Kollsnes respectively.
In August 2016, Statoil and its partners submitted a plan for development and operation for Byrding. Originally a US$420 million (NOK3.5 billion) project, costs have been cut to $120 million (NOK 1 billion).
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