On 30th November, Centrica announced that it had submitted the Plan for Development and Operation (PDO) for the Oda field to the Norwegian Ministry of Petroleum and Energy. Oda, previously called Butch, is owned by the following partners:
- Centrica (40% operator)
- Suncor (30%)
- Aker BP (15%)
- Faroe (15%)
Oda is an oil field, discovered in 2011 and lies in the Norwegian North Sea. The field will be developed as a subsea tie-back to the Ula patform, located c.13km away. The field will be developed with two production wells and one water injection well. Oil will be onward transported via the Norpipe system to the Teeside Terminal in the UK. The gas will be sold to Ula for injection to improve recovery in the Ula reservoir.
Ula is located in shallow water depths (66m) and is good quality reservoir with light oil. The development is planned to cost c.USD640 million, with first oil in 2019. The field has reserves of 42mmboe and plateau production is planned to reach 35mboepd.
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| Ula Area Source: Faroe Petroleum September 2016 investor presentation |
