The Norwegian independent company Det Norske Oljeselskap has been given the all clear by Norwegian authorities to begin with the US$ 438 million development of its debut Jette field.
It is hoped that once completed, the Jette field will be provide access to 14 million bbls. The field is due to be operational by Q1 2013 with a production rate of 14 000 bbls.
Though the Jette field is only a comparatively small development, Det Norske’s CEO, Erik Haugane said “We are of the opinion that it is preferable to state off with a small-scale development before moving on to more comprehensive projects.”
Det Norske has an 88% stake in the Jette field, with state player Petoro holiding 12%
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