Approved Development of Breidablikk Field Securing Activity and Jobs
The plan for development and operation (PDO) of the Breidablikk field in the North Sea has been approved by Norwegian authorities. Field investments are approximately NOK 18.6 billion. Production from the field is scheduled to start in the first half of 2024.
Equinor and its partners Petoro, Vår Energi and ConocoPhillips Skandinavia, submitted the development plans for the area to the authorities in September 2020. Estimated recovery from the field is around 200 million barrels of oil.
“We are very pleased that the authorities have approved the development plans for the Breidablikk field. The development of one of the largest undeveloped oil discoveries on the Norwegian continental shelf (NCS) will create substantial value for Norwegian society and the owners, while securing high activity and jobs for many years ahead,” says Arne Sigve Nylund, Equinor’s executive vice president for Projects, Drilling and Procurement.
70% of the value creation in the development phase goes to Norwegian companies, and contracts totalling NOK 8 billion have already been awarded to companies in Norway.
The Breidablikk development will include a subsea solution of 23 oil producing wells from four subsea templates. The field will be tied back to the Grane platform for processing before the oil is piped to the Sture terminal. The production will be monitored by high-tech digital tools from Equinor’s integrated operations centre at Sandsli, securing high value creation from the wells.
“There are still large resources left in the ground and we have a world-class infrastructure on the NCS. The Breidablikk development shows how a competent Norwegian petroleum industry keeps developing innovative, cost-effective and future-oriented solutions with good social economy,” says Kjetil Hove, Equinor’s executive vice president for Exploration and Production Norway.