French oil and gas major Total SA (TOT) said Thursday it has decided to begin development of its Hild gas field in the Norwegian zone of the North Sea.
French oil and gas major Total SA (TOT) said Thursday it has decided to
begin development of its Hild gas field in the Norwegian zone of the
North
Sea
.
The development represents an investment of $4.2 billion, Total said in a
statement, and is subject to Norwegian government approval.
Total said the field will be put into production at the end of 2016, with
production reaching 100,000 barrels of oil equivalent a day at peak. Total
estimates the Hild field's reserves at about 190 million barrels of oil
equivalent.
Total has a 51% interest in the field alongside partners Petoro with 30% and
Norwegian state hydrocarbons company Statoil ASA (STO) with 19%.
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