Equinor company announced that the Norwegian authorities has approved the plan of development and operation (PDO) of the Breidablikk field, in the North Sea with investments about NOK 18.6 billion, a press release stated.

According to the statement, the PDO was prepared by Equinor and its partners Petoro, Vår Energi and ConocoPhillips Skandinavia and submitted to the authorities in September 2020.

In this regard, Arne Sigve Nylund, Equinor’s executive vice president for Projects, Drilling and Procurement commented “We are very pleased that the authorities have approved the development plans for the Breidablikk field. The development of one of the largest undeveloped oil discoveries on the Norwegian continental shelf (NCS) will create substantial value for Norwegian society and the owners, while securing high activity and jobs for many years ahead.”

The field is planned to start production during the H1 2024 with estimated recovery around 200 million barrels of oil(mbbo). The statement elaborated that the development plan of the filed will include a subsea solution of 23 oil producing wells from four subsea templates. It will be tied back to the Grane platform for processing, before the oil is piped to the Sture terminal.