Germany's Wintershall has together with its partners Capricorn, Spirit Energy, Edison and DEA submitted a NOK 9.9 billion (EUR 1.1 billion) Plan for Development and Operation (PDO) for its operated North Sea Nova field to the Norwegian Ministry of Petroleum and Energy.
Hugo Dijkgraaf, Wintershall Norge Managing Director, today handed the Nova document to the Norwegian Minister of Petroleum and Energy, Terje Søviknes. It is the first PDO on the Norwegian Continental Shelf submitted in 2018.
Nova was discovered in 2012 and is situated in the northeastern North Sea approximately 17 kilometers southwest of the Gjøa platform and about 120 kilometers northwest of Bergen.
Total investments (CAPEX) in the Nova development are estimated at around NOK 9.9 billion (EUR 1.1 billion). Recoverable reserves on the field are estimated around 80 million barrels of oil equivalent (boe), of which the majority is oil. Pending final approval by the Norwegian authorities, the license partnership now enters the execution phase of the development, constructing the field ahead of planned start up in 2021.
Martin Bachmann, Wintershall Member of the Board of Executive Directors, commented: “With the Nova investment decision, we demonstrate our commitment to Norway. After Maria, Nova is an important landmark showing that we are prepared to take promising Norwegian assets through the whole lifecycle from discovery to development and into production. We believe in Norway and we continue to invest in high quality projects that will return value to us, our partners, our shareholders and the whole of Norwegian society.”
“DEA has supported the Nova project all the way, and with the PDO submission we enter a new exciting stage in the project, and demonstrate our commitment to our activity in Norway and the Norwegian Continental shelf,” said DEA Managing Director in Norway, Jon Sandnes.
Nova will be developed as a subsea tie-back connecting two templates to the nearby Gjøa platform for processing and export. Gjøa will also provide lift gas to the field and water injection for pressure support. Power for the Nova field comes via the Gjøa platform from shore.
“The Nova development is economically robust, and it will strengthen Gjøa as an area HUB. This is key to DEA with our presence in the Greater Gjøa area. In addition, utilising existing infrastructure is preferable environmentally. The Nova development project is another example of the industry’s willingness to invest in projects that build their concepts on tie-in solutions to existing infrastructure”, says DEA Asset Manager in Norway, Eivind Lunde.
“As well as selecting the most economically robust solution for developing the Nova field, utilising existing infrastructure is the most environmentally friendly solution. We have a proven track record of using smart engineering to achieve our goals, and we are on that same path with Nova. Alongside our Maria and Vega fields, this latest development positions Wintershall Norge as an expert in subsea technology,” said Hugo Dijkgraaf.