Norway Approves Investment In New Offshore Oil And Gas Project Bestla
Norwegian oil and gas operator DNO today announced a final investment decision for the development of the Brasse field, located in the northern North Sea. In addition to DNO Norge AS (39.3%), the Brasse partnership includes OKEA ASA (39.3%) as operator, Lime Petroleum AS (17%) and M Vest Energy AS (4.4%).
Brasse will be renamed Bestla, linking it to the nearby Brage operations, which will serve as a base for production, processing and export. Bestla is the grandmother of Brage in Norse mythology. According to long-standing practice, all Norwegian oil and gas fields bear Norwegian, Scandinavian or Norwegian names.
The Bestla field (PL740) contains 24 million boe of recoverable reserves and is expected to come on stream as early as the first half of 2027, subject to government approval of the project development and operation plan.
The Bestla field, discovered in 2016 and assessed with five wells in 2017-2019, will be developed with two wells subsea tied to the Brage platform, located 13 kilometers away, the company said in a press release.
Bestla is projected to add approximately 10,000 boe/d to the company at peak production. In the long term, Bestla will expand the commercial viability of the Brage site, which has been mining since 1993.
