By OGJ editors
HOUSTON, Nov. 28 -- Norwegian authorities approved the development and operating plan for Ringhorne Øst oil field on Block 25/8 in the North Sea, 180 km west of Karmøy, development operator ExxonMobil E&P Norway said Nov. 25.
Ringhorne Øst's reserves are estimated at 47 million bbl of oil. The development involves two production licenses—PL027 and PL169. Four oil wells are to be drilled starting next month through slots in the existing Ringhorne platform, where gas production started in February 2003.
Ringhorne Øst oil production will be processed at Ringhorne field and nearby Balder field facilities. Produced gas will move through Statpipe into the Gassled system via a high-pressure line from Balder field to Jotun field. Ringhorne Øst's total development cost is estimated at 1 billion kroner.
ExxonMobil holds 100% interest in PL027 and a 13% interest in PL169. Other PL169 interests are Norsk Hydro AS 45%, Petoro AS 30%, and Statoil ASA 12%.
