Brage is a producing conventional oil field located in shallow water in Norway. The Brage conventional oil field recovered 89.79% of its total recoverable reserves, with peak production in 1996. Based on economic assumptions, production will continue until the field reaches its economic limit in 2043.
Story By Tsvetana Paraskova |OilPrice.com| Norway’s Energy Minister Terje Aasland has received the field development plan for a new North Sea oil and gas field that will be tied back to the existing Brage platform and is expected to cost $572 million (6.3 billion Norwegian crowns).
The field operator, OKEA, has submitted the plan for development and operation (PDO) of the oil and gas field Bestla, to be tied back to the Brage platform, which would extend the life of the Brage field, the Norwegian Energy Ministry said on Tuesday.
Earlier this month, operator OKEA and its partners in the Brasse field renamed it Bestla and took the final investment decision to proceed with the Bestla development in a tie-back to the nearby production facilities of the Brage field.
The planned start of oil and gas production for Bestla is in the first half of 2027, while expected recoverable resources are estimated at 24 million barrels of oil equivalent, the Norwegian ministry said.
Bestla’s is the first field development plan submitted to the minister this year.
“The world will need oil and gas for many years to come, so it is important that companies continue to develop new projects and help sustain long-term petroleum activity on the continental shelf,” Minister Aasland said in a statement.
Oil and gas companies plan to boost exploration activity and spending offshore Norway this year as Western Europe’s top oil and gas producer looks to maintain production and raise exports to the rest of Europe.
Total investments in oil and gas activity offshore Norway, including pipeline transportation, are estimated to hit $23 billion (244 billion crowns) in 2024, up by 5% compared to last quarter’s assessment, Statistics Norway said earlier this year.
“The reason for the large investments in the oil and gas industry is mainly due to a strong increase in investments in field development, with an increase of 52 percent in 2023 compared to 2022,” said Ståle Mæland, senior advisor at Statistics Norway.
By Tsvetana Paraskova for Oilprice.com
More Info on the Brage Field:
BRAGE DEVELOPMENT
Brage is a field in the northern part of the North Sea, ten kilometers east of the Oseberg field. The water depth is 140 meters. Brage was discovered in 1980, and the plan for development and operation (PDO) was approved in 1990. The field has been developed with an integrated production, drilling, and accommodation facility with a steel jacket. The production started in 1993. A PDO for Brage Sognefjord was approved in 1998. PDO exemptions were granted for the Brent Ness, Bowmore Brent, and Talisker East Brent accumulations in 2004, 2007 and 2022, respectively.
BRAGE RESERVOIR
Brage produces oil from the sandstone of the Early Jurassic age in the Statfjord Group, and sandstone of the Middle Jurassic age in the Brent Group and the Fensfjord Formation. There is also oil and gas in Upper Jurassic sandstone in the Sognefjord Formation. The reservoirs are at depths of 2000-2300 meters. The reservoir quality varies from poor to excellent.
PRODUCTION FROM THE FIELD ~Source: Norwegian Offshore Directorate
