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News // Companies

DEA to invest more than two billion Euros in Norwegian oil and gas business

27 August 2018 , 18:35Neftegaz.RU472

Norway is already the strongest production country in DEA’s global portfolio. Further growth projects are planned to come on stream from 2020 on. Most important project is the development of the own operated Dvalin gas field. DEA aims to double its current production on the Norwegian Continental Shelf (NCS).

DEA reported this on August 27, 2018.

 

As part of our long-term growth strategy, we are investing more than two billion Euros in our development projects on the NCS”, says the CEO of DEA, Maria Moraeus Hanssen during the ONS 2018 in Stavanger.

“DEA has a significant and balanced portfolio in all areas of the Shelf. We currently focus on our own operated Dvalin project with planned production start in 2020, into which the majority of the investments goes. However, with 50%, we are also the main shareholder in the Njord development. Together with operator Equinor we are upgrading the existing Njord installations and plan to add further value by developing and integrating the Bauge fields”, she adds. 

 

As part of our long-term growth strategy, we are investing more than two billion Euros in our development projects on the NCS”, says the CEO of DEA, Maria Moraeus Hanssen during the ONS 2018 in Stavanger.

 

“DEA has a significant and balanced portfolio in all areas of the Shelf. We currently focus on our own operated Dvalin project with planned production start in 2020, into which the majority of the investments goes. However, with 50%, we are also the main shareholder in the Njord development. Together with operator Equinor we are upgrading the existing Njord installations and plan to add further value by developing and integrating the Bauge fields”, she adds. 

 

Furthermore, DEA is partner in the Nova field development in the Norwegian North Sea, where production start is planned for 2021.

“The goal is to have doubled our production in Norway when all these projects are up and running. This will further strengthen our position as one of the main players on the NCS”, Maria Moraeus Hanssen underlines. 

 

At ONS 2018, starting on Monday 27 August, key players of the global oil and gas and energy industry are meeting in Stavanger to reflect on how the industry and society should meet the energy future.

Maria Moraeus Hanssen gives an outlook on the topics to be discussed during the week: “The energy markets are changing dramatically. The global oil and gas demand goes up, but oil and gas compete with other energy sources on price. We can see a strong consolidation and diversification in the industry. Cost control remains high on the agenda of the companies. And, the main objective must be, to further adopt to a more and more sustainable and environmental way of energy production.”

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