Norwegian Ministry of Petroleum and Energy has approved the plan for development and operations for the Fenja field.
The approval was announced during the Minister Terje Søviknes speech at the Energy Change conference in Stjørdal.
The Fenja field is located at Haltenterassen in block 6406/12, about 120 kilometers north of Kristiansund. The field contains recoverable resources of approximately 100 million barrels oil equivalents, mostly oil.
Fenja will be developed with two subsea templates with six wells, three producers, two water injectors and one gas injector, connected to the Njord A platform for processing and storage and export via the Njord B ship.
VNG Norge holds 30% interest in PL586, while Point Resources holds 45% and Faroe Petroleum Norge 25%.
The production period for the Fenja field is expected to be 16 years.