Norway’s Petroleum Safety Authority (PSA) has given Okea consent to use the facilities on the Draugen field in the Norwegian Sea.
The consent for use covers the production facilities with associated wells, subsea installations with associated wells, infield pipelines, the oil loading system, and gas export pipeline.
Okea applied for the consent in late September following the company’s agreement to buy Shell’s interest in Draugen. As a result of the agreement, Okea has become the field’s new operator.
The agreement for the sale was reached in July 2018, when Shell said it would sell to Okea its entire 44.56% interest in Draugen and 12% interest in Gjøa in Norway for $532 million (NOK 4,520 million).
The Norwegian authorities gave the green light for the sale of the licenses containing the Draugen and Gjøa fields to Okea earlier this month .
As for the Draugen field, it is an oil field in the Norwegian Sea, around 150 kilometers north of Kristiansund.
The field was developed using a fixed concrete facility with an integrated deck and began production in October 1993. Deposits in the vicinity are produced by subsea wells tied back to the Draugen platform.