PARIS, Nov. 30 (UPI) -- Total expects to produce around 40,000 barrels of oil equivalent per day by 2013 from the second phase of operations at a North Sea field, the company said.
French energy company Total announced it received approval from the British Department of Energy and Climate Change for phase 2 development of the West Franklin field in the British waters of the North Sea.
The company in a statement said reserves at the field are estimated at 85 million barrels of oil equivalent. Total aims to spend $1 billion to drill three new wells at the field and install an additional drilling platform.
Production at West Franklin is slated for the end of 2013, when production should reach 40,000 boe/d, the company said.
Patrice de Vivies, a senior vice president for Northern European production at Total, said the DECC agreement solidifies the company's presence in the North Sea.
"It will contribute to maintaining our production level on the U.K. continental shelf and to expanding the life-span of the Elgin/Franklin hub," he said in a statement.
The West Franklin field is located about 150 miles east of Aberdeen. The Elgin/Franklin area in the British waters of the North Sea accounts for about 7 percent of the United Kingdom's oil and gas production.