Norway: Lundin Provides NPD with Development Plan for Luno

The Norwegian Petroleum Directorate has received the plan for development and operation (PDO) for the oil and gas discovery 16/1-8 “Luno” in the North Sea. Lundin is the operator for the development.

Total recoverable reserves in the discovery have been estimated at 29.1 million cubic metres of oil equivalents. The total investment will amount to approx. NOK 24 billion. Production is scheduled to start in 2015.

“Luno” lies in the central section of the North Sea, 180 kilometres west of Stavanger.

The licensees are planning to develop the discovery with a platform for production and processing of oil and gas. The plan is to transport the oil in pipelines via Grane to the Sture terminal in Hordaland County. The gas will either be sent to Sleipner or exported via the British pipeline system.

The” Luno” facility will pave the way for a coordinated development with “Draupne”, most likely the next development on the Utsira High. Other discoveries in the area may eventually be phased in to the facility.

The licensees have proposed Grieg as the new name for “Luno”. The Ministry of Petroleum and Energy will, in consultation with the established name group, decide on the final name.

The licensees in “Luno” are Lundin (50 per cent), Wintershall (30 per cent) and RWE Dea (20 per cent).

[mappress]

Subsea World News Staff , January 26, 2012; Image: Lundin Petroleum