Norwegian Energy Company ASA (Noreco) report that production has started from the Oselvar field, where Noreco has a 15 percent interest.

"The startup of Oselvar production is an important milestone for Noreco. This is the first field development for Noreco on the Norwegian Continental Shelf, and it represents the largest greenfield investment so far in the company's history. Oselvar will contribute to renew and diversify our portfolio of producing fields, and will contribute significantly to Noreco's production and cash flow," said Einar Gjelsvik, CEO in Noreco.

The Oselvar field has been developed by the operator DONG E&P Norge with a subsea template which is tied back to the BP operated Ula field, located 23 kilometres away from Oselvar. The start-up is based on production from two horizontal production wells, while the third is currently being drilled and will be completed before the summer. The oil from Oselvar is transported via Ekofisk to Teesside where it is sold, while the gas is re-injected into the Ula reservoir.

Tags: Norwegian Energy Company ASA