North Sea explorer Spirit Energy has been given the green light from regulators to start up its first operated development in Norway.
The Norwegian Petroleum Directorate (NPD) has given its approval for the Oda field with estimated reserves of 32.7million barrels of oil equivalent.
Total investment in the project is 5.5bn NOK (£504.7m), said the NPD.
Oda lies in the southern part of the Norwegian North Sea, around eight miles from the Aker BP-operated Ula platform which will process and transport oil from Oda.
The oil will be exported via Ula’s pipeline to the Teesside terminal in the UK.
First oil from the development is expected in the first half of this year.
Spirit Energy said in a statement online: “We’re delighted that our first operated development in Norway, Oda, has now received all the required approvals from authorities to start production.
“After safely drilling two production wells in 2018, we’re now making final preparations for first #oil in the first half of 2019.”
Spirit Energy launched in 2017 as a joint venture between Centrica and Bayerngas Norge.
The company has about 350 employees in Aberdeen.
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