Maersk Oil has decided to withdraw from the Dvalin field development in the Norwegian Sea.
According to reports, the company is giving away its 20% stake in the field to Petoro and DEA.
Following the Maersk withdrawal, DEA, who is the operator of the field, will hold 50% interest in Dvalin, Petoro 30% stake following its purchase of OMV Norge’s 20% stake in the field and Edison will hold the remaining 20%.
Regarding the company’s exit from the Dvalin development, Maersk spokesperson said: “Maersk Oil’s technical view of the project means our participation in Dvalin does not provide the economic value we would need to justify further investment. Consequently we are withdrawing from the development. We have planned a smooth and quick exit from the license and ensured that our partners in the development and the authorities are aligned with this to ensure this does not affect the momentum of the remaining partners in delivering the project.”
To remind, DEA Norge has submitted the plan for development and operation (PDO) of the field to the Ministry of Petroleum and Energy in Norway on Monday.
The Dvalin field, formerly named Zidane, will be developed as a subsea tieback to the Heidrun platform in the Norwegian Sea.
Dvalin will be developed with a four wells subsea template, which is connected to the Heidrun platform. At Heidrun, the gas will be partly processed in a new module, before the gas is transported in a new export pipeline to Polarled, going to the Nyhamna onshore gas terminal. At Nyhamna, the gas will be processed and transported to the European market.
The gas production from the field is planned to start in 2020.
Subsea World News Staff