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Received plans for Hild and Luno

Minister of Petroleum and Energy Ola Borten Moe received the Plans for development and operation (PDO) for the oil and gas discoveries Hild and Luno Thursday. Total is the operator of the Hild development, and Lundin is the operator of Luno.

- Through these developments, two new companies will become operators of independent fields and thus increase the player diversity in the development phase, said the Minister of Petroleum and Energy Ola Borten Moe.

The total recoverable reserves in the discoveries are 188 (Hild) and 183 (Luno) million barrels of oil equivalents, respectively. The total investments in Hild are about NOK 25 billion and about NOK 24 billion in Luno.

- New developments like Hild and Luno are important and necessary in order to maintain activity on the continental shelf over time. The developments emphasise the importance of a long-term perspective in the industry. Hild, which was discovered in 1978, can finally be developed profitably. Luno was discovered in 2007 in an area where there has been more than 40 years of exploration. The two development plans demonstrate the opportunities still to be found in mature areas on the Norwegian continental shelf, said the Minister of Petroleum and Energy Ola Borten Moe.

The development plan for Hild is based on power from shore. The proposed solution for Luno is local power supply for the field, but it will also be prepared for power from shore.

- The proposed energy solutions for these two development plans show that power from shore can be an appropriate solution for new, independent developments. In our processing of the Luno development plan, we will greatly emphasise creating good solutions for the entire Utsira High. This applies to coordination between the field, export and energy solutions, said the Minister of Petroleum and Energy Ola Borten Moe.

About Luno

The Luno discovery is located in the central part of the North Sea, 180 kilometres west of Stavanger. The planned development solution is a platform resting on the seabed for processing oil and gas. The oil will be transported in pipelines to Grane and then the Sture terminal. The gas will be sent to Sleipner or exported via the UK pipeline system.

The Lune platform will facilitate a coordinated development solution with Draupne, which will most likely be the next development on the Utsira High. The platform will also have flexibility to phase in other resources in the area.

The licensees have suggested Grieg as a new name for the Luno discovery. The Ministry of Petroleum and Energy will, in consultation with the appointed naming group, determine the final name for the field.

The licensees in the Luno development are Lundin Norway AS (50%), Wintershall Norge ASA (30%) and RWE Dea Norge AS (20%).

 

About Hild

The Hild discovery is located in the northern part of the North Sea, about 150 kilometres west of Fedje. The planned development solution is a platform resting on the seabed with full separation of gas and liquid. The gas will be exported via the UK pipeline system, while the oil will be processed and stored on a floating storage ship. Oil transport will take place using shuttle tankers.

The licensees have suggested keeping the name Hild. The Ministry of Petroleum and Energy will, in consultation with the appointed naming group, determine the final name for the field.

The licensees in the Hild development are Total E&P Norge AS (51%), Petoro AS (30%) and Statoil Petroleum AS (19%).

 

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