- ORLEN Group with 12 new licenses on the... euro-petrole.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from euro-petrole.com Daily Mail and Mail on Sunday newspapers.
Reuters Your browser does not support the audio element.
Norway s Aker BP ASA said on Dec. 18 it will start drilling and construction soon at its Grey Seal oil and gas field in the Norwegian Sea, and also expects to begin production in fourth-quarter 2021.
Located 210 km (130 miles) offshore, near the existing Skarv Field, the investment costs of Grey Seal are expected to touch 1.2 billion Norwegian crowns (US$140 million). Based on a development solution with reuse of existing infrastructure, this project has become very profitable, Project Manager Mette Nygaard said in a statement.
Containing an estimated 13 MMboe, the project has a break-even cost of just $15/bbl, the company said.