Following the completion of a feasibility study, the licensees have decided to spend two years examining possible approaches to bring the discovery on stream.
Luva is situated 140 km from the Statoil-operated Norne oil field, which is the nearest offshore installation, and 500 km from the Nyhamna pipeline terminal – the closest gas infrastructure with unused capacity.
Head of reserves and business development at StatoilHydro StÌ´le Tungesvik said “This could be the first development in the VÌüring area of the Norwegian Sea, and the first off Norway in such deep water.”
Luva was discovered and proven by BP in 1997 and, combined with Haklang and Snefrid South, is estimated to contain recoverable gas reserves of 40-60 Bcm.