STAVANGER, Norway, May 3 (UPI) -- Norwegian energy company Statoil announced plans to develop a field in the North Sea that holds about 45 million barrels of oil equivalent.
Statoil said it submitted plans to develop and operate the Katla discovery in the North Sea to the Norwegian Ministry of Petroleum and Energy.
The Norwegian company said it plans to drill four wells in the discovery. Two of them will be used to produce oil and natural gas while the others will be used for water injections in order to support reservoir pressure.
Statoil said it included the Katla discovery in its list of fast-track developments. Plans are to start production at the offshore field during the first quarter of 2013.
The company said it uncovered the field in 2009.
|Additional Energy Resources Stories|
LONDON, May 20 (UPI) --British investigators say they are "urgently reviewing" whether to join a European Union probe of three oil companies for alleged gasoline price-fixing.