Norwegian operator Statoil reportedly plans to invest between NOK4billion and 4.5billion in the development of the Utgard field in the North Sea.
According to reports in Norwegian media, a plant has been put together to have four well slots on the field.
Initially two wells will be drilled with an option for a third well in the field when needed.
The Utgard field is expected to increases the resource base and strengthen the company’s efforts to further develop the Sleipner area until 2030.
The company is said to be planning to deliver a development plan during the summer.
Aker Solutions has already been awarded a contract for preliminary engineering to tie Utgard field to Sleipner.
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