The plan for development and operation (PDO) of the Bøyla field has been submitted by the Bøyla partners and Lundin Petroleum AB. The latter submitted the plan through its sister company, Lundin Norway AS. The Bøyla field is situated in block 24/9 in the Norwegian sector of the North Sea about 28 km south of the Alvheim Field.
During the Q4 of 2014, the Bøyla development is likely to commence production. Lundin Petroleum has a 15% interest in the Alvheim and Bøyla fields, along with associates Marathon Oil Norge AS who hold 65% and ConocoPhillips Skandinavia hold 20%.
In 2004, the PL 340 license was awarded and in 2009, the first discovery was made. Additionally subsurface mapping and testing was performed after reconnaissance and appraisal drilling has indicated the existence of significant amount of oil.
The Bøyla field will be upgraded as a subsea tie-back to the Alvheim FPSO (floating production, storage and offloading) vessel. Further, a water injection well and two production wells will be drilled. Approximately 867 million USD is estimated to be overall investment towards the field development. The reserves are estimated to be 23 million barrels of oil equivalents.
The crude oil from the Bøyla field will be mixed with the Alvheim blend. Shuttle tankers will be used to export the oil, and associated gases will be deployed through the Alvheim to the SAGE pipeline.
Lundin Petroleum is an oil and gas exploration company, whose portfolio includes assets that are mainly located in South East Asia and Europe.
Source: http://www.lundin-petroleum.com/