Statoil and its partners have started production on the Byrding field as planned. Recoverable volumes in Byrding are estimated at a good 11 million barrels of oil equivalent.
Byrding is an oil and gas field north of the Troll field in the North Sea.
The partners have invested around NOK one billion in Byrding, which is a reduction from the original estimate of around NOK 3.5 billion.
“Good utilisation of existing infrastructure has resulted in a cost-effective development that will add profitable resources to the Troll field,” says Gunnar Nakken, senior vice president for the operations west cluster in Statoil.
Statoil increased its share in Byrding from 45% to 70% when the company acquired Wintershall Norge’s share of 25% in October 2016.