LONDON, July 25 (UPI) -- The approval of a field development plan for the Breagh gas field in the North Sea is "hugely significant," said an official with German energy company RWE.
The British Department of Energy and Climate Change announced it approved RWE's plans to operate in the Breagh natural gas field in southern regions of the North Sea.
"The FDP approval is a hugely significant achievement for our Breagh gas field development," Ralf to Baben, chief operating officer of RWE Dea, said in a statement.
"It is an essential element for the realization of our strategic target to boost RWE Dea's annual gas and oil production to more than 70 million barrels of oil equivalent by 2016."
The Breagh field is about 60 miles off the coast of northeast England. Development consists of building a pipeline to a processing plant on shore. Approval for the additional wells planned for phase two development is expected early next year.
London this year increased the tax burden on North Sea oil and gas production by more than 10 percent. RWE said in June it was investing in two natural gas fields in the North Sea despite the tax increase.
