May 16, 2018 / 7:27 AM / 12 days ago

Wintershall submits NOK 9.9 bln development plan for Nova field off Norway

OSLO, May 16 (Reuters) - Wintershall, the oil and gas firm BASF has agreed to sell to DEA, and its partners will spend 9.9 billion crowns ($1.22 billion) to develop the Nova field in the Norwegian Sea, Norway’s oil ministry said on Wednesday.

The field, which is estimated to hold 80 million barrels of oil equivalents, is expected to start production in 2021, said the ministry

Operator Wintershall has a 35-percent stake in the license, Capricorn Norge, which belongs to Cairn Energy, has 20 percent, Spirit Energy has 20 percent, Edison of Italy has 15 percent and DEA holds the remaining 10 percent.

$1 = 8.1121 Norwegian crowns Reporting by Nerijus Adomaitis, writing by Ole Petter Skonnord, editing by Gwladys Fouche

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