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Image courtesy of Lundin Petroleum.

Lundin Petroleum produced first oil last Thursday at its offshore Norway Brynhild field after a six month delay and cost overruns.

Production is currently exceeding the forecast gross plateau rate of 12,000 barrels of oil per day.

First oil at the North Sea field was expected in June and was finally produced on December 25.

The field, located in production license PL148, is a subsea tie-back to the UK North Sea Pierce field operated by UK-based Enterprise Oil.

The Brynhild field holds estimated gross reserves of 23.1 million barrels of oil equivalent.

Development costs for the field are expected to go over its initial budget by 58 percent, according to Reuters.

Drilling of a third development well is ongoing.

The field’s fourth and final development well is expected to be finished in 2015.

Brynhild is the first of four Lundin development projects scheduled to come onstream over the next four quarters.

The four projects are expected to boost the company’s production to over 75,000 barrels of oil equivalent per day.

Lundin Norway, a wholly owned subsidiary of Sweden-based Lundin Petroleum, is the operator of PL148 with a 90 percent
interest.

Canada-based Talisman Energy holds a 10 percent interest.