Norwegian oil company Det norske has announced it will proceed with the development of the NOK1.8bn ($237m) Viper-Kobra project, offshore Norway.

Viper-Kobra, which includes two small discoveries in the Alvheim area, features two separate discoveries with a potentially connected reservoir.

Kobra and Viper, which lie in production licence 203, were discovered in 1997 and 2009, respectively.

Upon its planned completion in December 2016, the project will see around 7,500 additional barrels of oil per day flowing into the Alvheim floating production, storage and offloadling (FPSO) vessel.

The two reservoirs combined hold nine million barrels of oil equivalents in recoverable reserves with about eight million barrels in oil.

"Upon its planned completion in December 2016, the project will see around 7,500 additional barrels of oil per day flowing into the Alvheim FPSO vessel."

Plans include the drilling of two wells, subsea installations, pipelines and hook-up. The development will also feature a new subsea installation with a pipeline tied to the Volund manifold.

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The four well-slots are assigned for one well from Viper and one from Kobra, as well as two well-slots aimed for potential future wells in the area.

The first contracts are planned to be awarded this month with the drilling of wells likely to start early in 2016. Installation of templates and hook-up is scheduled for September 2016.

Det norske operates and holds a 65% interest in the Alvheim licence, while ConocoPhillips and Lundin own 20% and 15% stakes, respectively.

Det norske technology and field development senior vice-president Øyvind Bratsberg said: "The existing infrastructure in the area renders this project profitable.

"The key is to develop both discoveries with the same infrastructure, thus ensuring maximum utilisation of the resources."

Image: Det norske SVP of technology and field development Øyvind Bratsberg. Photo: courtesy of Det norske.