Subsea Development Concept Selected for Pil & Bue

subsea-development-concept-selected-for-pil-bueThe operator of the Pil & Bue discoveries, VNG Norge, has selected a subsea development solution tied back to the Njord platform in the Norwegian Sea as the preferred concept for development of the Pil & Bue.

The discoveries are located in the licence PL586, where VNG is the operator with 30% interest. Other partners in the license are Spike Exploration Holding with 30%, Faroe Petroleum Norge holds 25%, and Pure E&P Norway 15% stake.

Between three competing concepts considered for the discoveries, a subsea installation tied back to the Njord platform has emerged as the best option, Faroe Petroleum explained.

Going forward, the development solution will be matured through the front end engineering design (FEED) stage towards a formal field development plan.

The Njord production facility is currently in Kvaerner’s Stord facility in Norway undergoing modifications in order to increase materially its operating life and accommodate a number of new satellite field tie-back developments including Pil & Bue.

Graham Stewart, CEO of Faroe Petroleum said: “I am very pleased to announce that the Njord facilities have been chosen for the development of the material Pil & Bue discoveries. This is a significant step in the maturation of these high quality discoveries and the fact that they will be tied back to infrastructure we know well, and are joint venture partners in, further consolidates one of our core areas in Norway. We look forward to cooperating with our partners on the Njord licence as we progress this important project towards development.”

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