September 4, 2015 / 9:48 AM / 2 years ago

Norway approves Wintershall's Maria oil field development

OSLO, Sept 4 (Reuters) - Norway has approved BASF subsidiary Wintershall's plan to develop the Maria oil and gas field in the Norwegian Sea, the government said in a statement on Friday.

Operator Wintershall has previously estimated the development to cost around 15.3 billion Norwegian crowns ($1.85 billion)..

The discovery has around 180 million barrels of oil equivalants, mostly oil, and is expected to start production in the fourth quarter of 2018.

Partners in the license are state firm Petoro, Britain's Centrica and UK-based Sequa Petroleum. ($1 = 8.2658 Norwegian crowns) (Reporting by Terje Solsvik, editing by Stine Jacobsen)

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