Nova field approved for development“It is a great pleasure for me to approve my first field development project – Nova”
The Nova oil field, located 120 kilometres west of Bergen, has been approved for development by the Norwegian Ministry of Petroleum and Energy. This project can provide Norway with 10,000 new full-time job equivalents.
“It is a great pleasure for me to approve my first field development project – Nova”, says Minister of Petroleum and Energy Kjell-Børge Freiberg (Progress Party). “Ten billion kroner of investment makes this a gigantic industry project that will generate enormous revenues for wider society”, he says.
The operator estimates that job creation in Norway linked to the Nova development will be of the order of 10,000 full-time job equivalents.
“This is yet more evidence that the Norwegian supplier industry is making strides in the face of global competition”, says Freiberg.
Wintershall and the other licence partners are investing close to NOK 10 billion in this development project. The operator has calculated that cumulative production from the Nova field will be approximately 77 million barrels of oil equivalents.
Nova is a subsea development tied back to the Gjøa platform. The field is located in a mature oil province close to existing infrastructure. It will thus be able to make use of free capacity that will secure its cost-effectiveness.
The Nova field is located 120 kilometres north-west of Bergen, and 17 kilometres south-west of the Gjøa field. The water depth at the field location is 370 metres. It was discovered in 2012, and will produce mainly oil.