VNG Norge informed that the front end engineering and design (FEED) studies have been initiated for the Pil & Bue project.
The partners in the licence PL586, where Pil & Bue are located, plan to pass the final investment decision for the discoveries by the end of the year.
“The decision demonstrates the ability to move the Pil & Bue project ahead. We look forward to maturing the project further towards the final investment decision and submitting the PDO by the end of the year,” said Atle Sonesen, managing director of VNG Norge.
In November, the partners selected a subsea tie-back to the Njord platform as the development concept for the discoveries.
VNG is the operator of Pil & Bue 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.