Equinor and its partners have secured approval for their plan for development and operation (PDO) of the Breidablikk field in the Norwegian North Sea.
The partners will invest $2.17bn (Nkr18.6bn) to develop the Breidablikk field, which is located north-east of the Grane field.
Planned to start production in the first half of 2024, the field is anticipated to have recoverable oil reserves of approximately 200 million barrels.
Equinor projects, drilling and procurement executive vice-president Arne Sigve Nylund said: “The development of one of the largest undeveloped oil discoveries on the Norwegian continental shelf (NCS) will create substantial value for Norwegian society and the owners, while securing high activity and jobs for many years ahead.”
The Breidablikk field development involves 23 production wells, which will be tied back to the platform in the Grane field via four subsea templates.
Equinor-operated Grane platform will process the oil prior to delivering to the Sture terminal in Øygarden municipality through a pipeline.
Equinor said that its integrated operations centre at Sandsli in Norway will be used to monitor the production at the Breidablikk field.
Equinor exploration and production Norway executive vice-president Kjetil Hove said: “There are still large resources left in the ground and we have a world-class infrastructure on the NCS.
“The Breidablikk development shows how a competent Norwegian petroleum industry keeps developing innovative, cost-effective and future-oriented solutions with good social economy.”
Equinor has partnered with Petoro, ConocoPhillips Skandinavia, and Vår Energi on the Breidablikk project.
Some of the key contractors for the Breidablikk project include Aker Solutions, which will supply subsea production facilities, and TechnipFMC, which is responsible for pipelaying and subsea installation services for the project.
Moreover, Wood will undertake necessary modifications and upgrade the Grane platform to support production from the new field.