VNG Submits Fenja Field Plan for Development and Operation
VNG Norge has submitted a Plan for Development and Operation (PDO) of the Fenja field to the Norwegian Ministry of Petroleum and Energy.
Fenja will be developed with two subsea templates with six wells, three producers, two water injectors and one gas injector, connected to the Njord A platform for processing and storage and export via the Njord B ship.
The partners in the PL586 licence are planning to invest NOK 10.2 billion in the field, with planned production start in 2021.
The production period for the Fenja field is expected to be 16 years, VNG said.
The Fenja field is located at Haltenterassen in block 6406/12, about 120 km north of Kristiansund. The field contains recoverable resources of approximately 100 million barrels oil equivalents, mostly oil.
“The partnership has shown commitment when, just over three years since the discoveries were made, we are able to deliver a development plan for an economic project based on a good area solution and cooperation with the suppliers. Although this is the first development operatorship for VNG Norge, we have built a strong and experienced development team and are well prepared for execution. Compared to the initial plans, we have managed to reduce the cost of the project by almost NOK 2 billion,” said Atle Sonesen, managing director of VNG Norge.
VNG Norge holds 30% interest in PL586, while Point Resources holds 45% and Faroe Petroleum Norge 25%.