BASF’s wholly-owned subsidiary Wintershall and its partners have submitted a NOK15.3bn ($2bn) plan to Norwegian Ministry of Petroleum and Energy for development and operation (PDO) of the Maria field in the Norwegian Sea.
According to BASF, the development includes drilling, and recoverable reserves are estimated at around 180 million barrels of oil equivalent.
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Wintershall board of executive directors member Martin Bachmann said: "We are well on track on the Norwegian Continental Shelf. Making this investment decision to bring our own discovery, Maria, into production demonstrates our long-term commitment to Norway.
"Norway is a core region for us. And now Wintershall is moving its successful exploration portfolio towards development and production."
As part of the planned development solution for the Maria field, two subsea templates located on the ocean floor will be tied back to Kristin, Heidrun and Åsgard B production platforms in the area.
The Maria partners used the existing infrastructure in the Haltenbanken area of the Norwegian Sea and selected the sustainable solution to realise the field potential.
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By GlobalDataWith planned production on the field set to commence by 2018-end, the estimated production period is 23 years.
With a 50% share, Wintershall Norge operates the Maria field, which is located around 20km east of the Kristin field and approximately 45km south of the Heidrun field in the Halten Terrace in the Norwegian Sea.
Petoro owns a 30% share in the license, and the remaining 20% is owned by Centrica Resources.
Image: The Maria field is located about 20km east of the Kristin field. Photo: courtesy of Wintershall Holding GmbH
