Norwegian oil production firm Okea has confirmed its Yme redevelopment project is scheduled to deliver first oil in the latter half of 2020. The project is located in the Egersund Basin, 100km off the coast in the Norwegian area of the North Sea.
OKEA is working with operator Repsol and the other joint venture partners to reduce the impact on the project caused by travel and other restrictions due to coronavirus pandemic.
However, OKEA will postpone all sanctioning decisions on Yme where partners agree. This may mean drilling or seismic programmes, where possible.
Its containment measures will result in around a 90% decrease of the company’s planned 2020 exploration expenditure.