DNO, OKEA to increase North Sea oil production with Brasse-Brage tie-back development
(WO) – DNO ASA and OKEA ASA, in collaboration with its partners, announced that final investment decision (FID) has been made for the Brasse oil development offshore Norway. The field is estimated to contain 24 MMboe gross in recoverable reserves and will be developed as a tie-back to the Brage field’s production platform.
The Brasse oil field (PL740) is in the northern North Sea, 13 km south of the Brage field (Brage Unit). Transactions amongst the partners have resulted in an ownership structure with substantial overlap with the Brage Unit. OKEA will continue as operator for both licenses.
The development plan for Brasse consists of a two-well subsea tie-back to the Brage platform, which will serve as the host facility for production, processing, and export. Use of standard solutions, well-proven technology, and close cooperation with strategic partners will ensure an efficient and cost-effective development.
The field is expected to come on stream during the first half of 2027 and is anticipated to operate until 2031 with potential for extension. Plateau oil production is estimated at around 10,000 boed OKEA share (26,000 boed gross) and is expected within the first year of production.
Bestla is projected to add an estimated 10,000 boed on a net basis to DNO at peak production. Longer term, Bestla will extend the commercial viability of the Brage facilities, allowing partners to squeeze more oil and gas out of Brage, which has been in production since 1993.
OKEA has awarded a contract to Aker Solutions for the topside scope and a contract to Subsea7 and OneSubsea for the subsea scope. Contracts for rig and drilling services will be awarded in the second quarter of 2024.
DNO has two other new fields under development offshore Norway, namely Andvare (32 percent) and Berling (30 percent). Separately, DNO is maturing a string of recent North Sea discoveries towards development.
In 2023, DNO was the third most active exploration driller on the Norwegian Continental Shelf and ranked second in discovered volumes with an estimated 100 MMboe net to the company.
DNO has prioritized near-infrastructure exploration in areas with clear routes to commercialization of discoveries and has been an early mover in acquiring substantial acreage positions in selected areas which have since become exploration hotspots.
The PL740 partnership consists of OKEA ASA (operator 39.2788%), DNO Norge AS (39.2788%), Lime Petroleum AS (17%), and M Vest Energy AS (4.4424%).
The Brage Unit partnership consists of OKEA ASA (operator 35.2%), Lime Petroleum AS (33.8434%), DNO Norge AS (14.2567%), Petrolia Noco AS (12.2575%), and M Vest Energy AS (4.4424%).
The plan for development and operation (PDO) will be submitted in April, and Brasse will be renamed Bestla upon approval of the PDO. According to DNO, Bestla is Brage’s grandmother in Norse mythology. As is customary for the area, all Norwegian oil and gas fields carry Norse, Nordic or Norwegian names.
