Statoil and its partners today submitted the Plan for Development and Operation of the Byrding oil and gas discovery in the North Sea to government authorities.
Capital expenditures estimated at approximately NOK 1 billion, recoverable volumes are projected at approx. 11 million barrels of oil equivalent.
The Byrding development includes a duo-lateral well drilled from the existing Fram H-Nord subsea template through which oil and gas from Byrding will flow to Troll C.
Oil and gas will be piped from there through existing pipelines to Mongstad and Kollsnes respectively.
Capital expenditures have been reduced from initially approximately NOK 3.5 billion to the current estimate of approximately NOK 1 billion.
The duo-lateral well to be drilled is some seven kilometres long, the first kilometres being shared by the two laterals.
The field is scheduled to come on stream in the third quarter of 2017. The project will thus yield a return in the same year as investments are made.
According to plans Byrding will remain on stream for 8-10 years.