Statoil today submitted the plans for the Njord and Bauge development projects to the Norwegian minister of petroleum and energy, Terje Søviknes.
“When we submitted the plan for development and operation for the Njord development 20 years ago we assumed that the field would be shut down in 2013. With new technology, project improvements and close cooperation with the partners and supply industry, we now see opportunities to create considerable value for another 20 years at Njord”, says Margareth Øvrum, Statoil’s executive vice president for Technology, Projects and Drilling.
It is a revised plan for development and operation of the Njord field and a plan for development and operation of the new Bauge field that were submitted to Norwegian authorities today.
Capital expenditures for both fields total NOK 19.8 billion (Njord NOK 15.7 billion, and Bauge NOK 4.1 billion).