Lundin Energy has started production from the Solveig oil field in the North Sea production license (PL) 359, offshore Norway. The field is located 15km south of the Edvard Grieg oil field, and its Phase 1 development project includes a five-well subsea tie-back to the Edvard Grieg platform.
The subsidiary of Lundin Petroleum, Lundin Norway, is the operator and holds 65% interest in both Solveig and Edvard Grieg, alongside OMV with a 20% stake and Wintershall with a 15% stake. The subsidiary stated that the ownership adjustment will help optimize production and create maximum value for all partners.
Last month, Lundin has secured approval from the Norwegian authorities to begin production from the Solveig field Phase 1 development. The Phase 1 drilling results at Solveig have surpassed the firm expectations, and two of the five development wells have been completed.
According to Lundin, the area holds further discovered resources, and the Phase 1 drilling data and production performance de-risked the further upside potential.
By the end of 2022, the firm expects to submit the plan for development and operation (PDO) for a Phase 2 development.
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