UK-based BG Group started production Wednesday from the Knarr oil field at its Petrojarl Knarr floating production, storage and offloading (FPSO) vessel in Norway’s North Sea.
The FPSO, leased from British Colombia-based Teekay Corporation, is moored 74 miles off the Norwegian coast.
Petrojarl Knarr has a production capacity of 63,000 barrels of oil equivalent per day and a storage capacity of 800,000 barrels.
The Knarr field, discovered in 2008, holds estimated gross recoverable reserves of about 80 million barrels of oil equivalent with a production life of at least ten years.
In 2011 the Knarr field was merged with the Knarr West field into an integrated development.
“New exploration drilling in the licence area is ongoing, in order to help extend the production life further,” BG Group said.
BG Group is the operator of the field with a 45 percent working interest.
Japan-based Idemitsu Petroleum Petroleum holds a 25 percent interest, Germany’s Wintershall holds a 20 interest and DEA Norge, a subsidiary of Germany’s Rwe DEA, holds a 10 percent interest.