TWO N. SEA FIELDS APPROVED FOR DEVELOPMENT
Two oil field development projects have won the green light in the North Sea. Norsk Hydro gained approval for its 8.4 billion kroner ($1.29 billion) Brage project off Norway. The 240 million bbl field will be developed with a single drilling and production platform linked to the nearby Oseberg crude oil pipeline to the Norwegian mainland. In the U.K. sector, Amerada Hess Ltd. will shortly place on stream Hamish oil field, one of the smallest reservoirs to be tapped off Northwest Europe.