The Norwegian Petroleum Directorate (NPD) authorized the production startup on Ivar Aasen field in the North Sea. Aker BP AS, the operator, has scheduled the field in 360 ft of water to come on stream during December.
Oil and gas from Ivar Aasen will be processed using Edvard Grieg field equipment.
NPD said investment costs for the development are $3.2 billion.
Det norske ASA was operator of Ivan Aasen until the company merged with BP earlier this year, becoming Aker BP (OGJ Online, June 10, 2016).