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Plan for Development and Operation (PDO) for the Ivar Aasen field delivered Friday 21st December 2012.

Released - Last updated

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At a ceremony in Trondheim the Minister for Petroleum and Energy, Mr Ola Borten Moe, received the PDO from the operator Det norske oljeselskap ASA (35 %). Bayerngas holds a 15 % participating interest in the field and Statoil the remaining 50 %.

Production start is expected late 2016 and plateau production is expected in 2018/19 at 65 000 boe/d. Recoverable volumes are 150 mill boe. Economic life of field is expected to be 12-20 years depending on oil price and development of production. Total investments are estimated at 24.7 billion NOK (2012).

The Ivar Aasen field comprises three discoveries; Ivar Aasen, Hanz and West Cable. They will be developed with a manned platform on top of the Ivar Aasen field while Hanz will be tied via a subsea template. West Cable will be drilled from the manned platform. Ivar Aasen will have a one stage separation process. Oil and Gas is transferred to Edvard Grig for further processing and export to the market.

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Bayerngas wants to take this opportunity to thank Det norske as operator and Statoil as partner for the work and cooperation that has led to delivery of the PDO.
Updated