The investment will form part of the second development phase of the Maria project to add nearly 22 million barrels of oil equivalent to the total field reserves.
As part of this plan, the partners are seeking approval for the updated plan for development and operations (PDO) from the Norwegian Ministry of Petroleum and Energy.
Wintershall Dea Norge managing director Michael Zechner said: “The Maria Phase 2 project is a major undertaking that will enable us to extract further significant volumes from the field.
“This investment in Maria shows that we are determined to use our expertise as a subsea operator to generate value from our assets and secure European energy supply.”
Under the Maria Phase 2 project, the partners will install a new six-slot template in the southern part of the field to accommodate two producing wells, and one water injector for pressure support.
To enable future development of the field, the three spare slots will also be available for the template.
The Maria’s Phase 2 development is anticipated to start production in the second quarter of 2025, reported Reuters.
Located on Haltenbanken in the Norwegian Sea, approximately 25km east of the Kristin field, the Maria field started production in 2017. It was developed as a subsea tie-back with two templates.