Italy's Eni SpA (E) has selected the development concept for its Goliat license north of Norway, and will proceed with an offshore floating processing and storage unit with subsea wells, rather than an onshore landing point.
Eni and the other partners in Goliat said a floating solution was the best technical and economic option of the alternatives considered and would allow for future discoveries in the area to be "tied-in" to the Goliat project.
A process to select contractors to build the project is now underway and the outcome will be announced within the first quarter 2008, Eni said. A plan for development and operation will be submitted by end of the year for approval from Norway's parliament in spring 2009.
Goliat is one of Norway's biggest recent discoveries, although plans to develop the field - found in 2000 - have been controversial as it is located in the ecologically fragile Barents Sea.
Onshore activity associated with the project such as supply, helicopter and maritime services will likely be centered in the north Norway town of Hammerfest.
Operator Eni owns 65% in the license, StatoilHydro ASA (STO) 20% and Det Norske Oljselskap (DETNOR.OS) 15%.