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The Alvheim FPSO. Image courtesy of Det norske oljeselskap.

Norway-based Det norske oljeselskap celebrated first oil Monday from its operated Bøyla field in the Norwegian North Sea.

The Bøyla field, located in license PL340, is the fourth field to go into production in the Alvheim area.

The field holds estimated gross reserves of 23 million barrels of oil equivalent.

Bøyla is expected to produce at a gross peak rate of 20,000 barrels of oil equivalent per day after a second production well goes online.

Det norske said the plateau rate is expected to be “somewhat lower” than the field’s gross peak rate production.

Drilling operations on the second production well were suspended in late 2014.

The Transocean Winner semi-submersible rig will return to complete the well during the second quarter of 2015.

The second production well is expected to begin production by the middle of the year.

The Bøyla field is produced by the 150,000 barrels per day Alvheim FPSO, located about 17 miles from Bøyla.

Det norske operates PL340 and holds a 65 percent interest.

Sweden-based Lundin Petroleum and Norway-based Core Energy each hold a 15 percent stake.