OSLO, Norway – Eni says it plans to start producing oil soon from Norway’s first Arctic development.
Goliat is 50 km (31 mi) southeast of Snohvit field and, Eni said, will be the northernmost producing offshore oil field. Oil will go into a floating production platform for export via shuttle tankers. Associated gas will be reinjected.
The project costs went to 46.7 billion crowns ($5.62 billion) from an original estimate of around 30 billion crowns in 2009.
Operator Eni has a 65% share of the field, while partner Statoil holds the remaining 35%.