VNG Anticipates Pil & Bue FID by Year-End

Source: www.gulfoilandgas.com 2/18/2017, Location: Europe

VNG Norge and its partners in PL 586 have passed the second decision gate (DG2) for the Pil & Bue project. This milestone is the formal decision of continuation of the project (Beslutning om videref?ring – BOV). The project has initiated FEED-studies (Front End Engineering and Design). The plan is to pass the final investment decision (DG3) by the end of the year.

As communicated in November 2016, the selected concept for the field development is a subsea tie-back to the Njord platform.

'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,' says Atle Sonesen, Managing Director of operator VNG Norge.

Partners in Pil and Bue, located in PL 586 on the Halten Terrace, are VNG Norge (operator, 30%); Faroe Petroleum (25%); Point Resources (45%). Total resource estimate is 90-200 Mboe.


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Related Categories: Consultancy  Engineering  FEED  General  Maintenance and Repair  Process Technology Licensing  Production Engineering  Project & Resource Management 

Related Articles: Consultancy  Engineering  FEED  General  Maintenance and Repair  Process Technology Licensing  Production Engineering  Project & Resource Management 


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