VNG Norge informed that the front end engineering and design (FEED) studies have been initiated for the Pil & Bue project.
The partners in the licence PL586, where Pil & Bue are located, plan to pass the final investment decision for the discoveries by the end of the year.
“The decision demonstrates the ability to move the Pil & Bue project ahead. We look forward to maturing the project further towards the final investment decision and submitting the PDO by the end of the year,” said Atle Sonesen , managing director of VNG Norge.
In November, the partners selected a subsea tie-back to the Njord platform as the development concept for the discoveries.
VNG is the operator of Pil & Bue with 30% interest. Other partners in the license are Spike Exploration Holding with 30%, Faroe Petroleum Norge holds 25%, and Pure E&P Norway 15% stake.